Protection challenger Guardian has announced its biggest cover upgrade across both adult and children’s critical illness cover.
The upgrade, which will take place later this month, will include the addition of five new critical illness definitions (three for adult’s cover and two for children’s cover) and 24 definition improvements (13 for adult cover and 11 for children’s cover).
The improved children’s critical illness cover now include the policyholder’s partner’s children.
Alongside the improvements, there will be 16 neutral wording changes and three clarifications to its definitions to increase customer certainty about when they can claim.
New definitions and improvements
The new definitions on adult’s cover are Lobectomy, Necrotising Fasciitis, and Removal of Urinary Bladder.
On children’s cover the new definitions are Lobectomy and Removal of Urinary Bladder. One of the biggest improvements is related to surgery cover.
Guardian has removed surgery cover as a separate partial payout definition – which previously paid 25% of the cover amount when a policyholder was placed on the NHS waiting list – and has enhanced each of the individual definitions it applies to.
The insurer said it will make a full 100% payout on 12 definitions and a 50% payout up to £50,000 on two definitions when a customer is placed on the NHS waiting list for surgery (or once they have undergone the surgery).
Another improvement is to the major organ transplant definition.
This now includes transplants of organs from animals or artificial devices, supporting Guardian’s commitment to make sure its definitions keep up to date with medical enhancements.
Existing customers will benefit
Existing customers have access to the new and improved definitions too due to Guardian’s innovative cover upgrade promise.
This promise is unique in the market and means when Guardian improves definitions on its critical illness cover for new policyholders, it will give those improved definitions to existing policyholders as well.
This means existing policyholders can claim on any of the definitions listed in their policy terms and conditions, as well as any improved definitions that Guardian has added since.
This applies to both full payout and additional payout definitions.
Hilary Banks, commercial director at Guardian, said: “We’re thrilled to announce our biggest cover upgrade yet, which is going live soon.
“It will be the most far-reaching we’ve done – with five new definitions and 24 improvements – as well as an extended definition of the children covered under children’s cover to now include the policyholder’s partner’s children.
“A particular highlight is our improvement to definitions involving surgical procedures. Customers can now make a full claim if they’re put on the NHS waiting list for one of the listed surgeries, as opposed to a 25% partial payment.
“The very best bit is that – due to our cover upgrade promise – our existing customers will also benefit.
“This is something we’re immensely proud of as it means people who choose Guardian can always be confident that they’ll have access to the best definitions we have on offer.
“Our promise helps advisers too, supporting them to develop long-lasting client relationships based on trust.”
Alan Lakey, director at CIExpert added: “A real differentiator, when talking about quality, is Guardian’s cover upgrade promise.
“This promise makes all these improvements available for existing customers, not just new ones.
“For me, this promise is a perfect example of how our industry can challenge itself to provide better customer outcomes.”
Cover upgrade promise checker
Guardian said it is also launching a cover upgrade promise checker tool to allow customers to check the definition on their policy, as well as all the definition changes that have been made since they took it out.
A version of the tool will also be available for advisers on Guardian’s website to help them clearly explain the value of cover upgrade to their clients.
Guardian has also updated its cancer definition for both adult and children’s cover.
However, it said the changes makes clear it won’t pay out for Pituitary Neuroendocrine Tumours as a full payout condition.
It will still pay out as an additional payout of 50% of the cover amount, up to £50,000.
This update was made due to change in classification of a Pituitary Neuroendocrine Tumours from benign to malignant by the World Health Organisation.
Around 1 in 10 people will have develop a pituitary tumour in their lifetime, although most will never have any symptoms or be aware of it.
