Life insurance customers on alert following critical illness decision

Thu, 12 Apr 2007

Life insurance policyholders may be interested to hear that Liverpool Victoria Friendly Society has expanded the conditions covered by its critical illness packages.

While confirming it will adhere to the Association of British Insurers' new best practice guidelines, the financial services provider has also announced it will consider insurance claims regarding liver failure, severe lung disease, progressive supranuclear palsy, cardiomyopathy and aplastic anaemia.

Meanwhile, people looking for a competitively-priced life insurance deal may be interested to hear that the insurance provider is cutting its premiums by an average of 3.8 per cent.

Stuart Tragheim, director of intermediary business at the financial services provider, explained why the expanded condition list promises to be good news for insurance policyholders.

"By adding five new conditions, over and above those which comply with the new guidelines, advisers can offer individuals and families greater peace of mind that they will be financially covered," he said.

Typically, providers of critical illness insurance cover will pay out if a policyholder is diagnosed with one of a host of serious medical afflictions.

These conditions may include cancer, heart attack, coronary artery bypass surgery and end-stage renal disease.

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