LV= has dramatically improved its critical illness cover, paying out twice the original sum for certain illnesses.

The double cover is the headline enhancement in a raft of changes to its policies. Overall, LV= is now offering:

  • 200% cover for specified conditions (for example loss of speech, paralysis of a limb, traumatic head injury) caused directly by an accident
  • 150% cover for customers under 45 diagnosed with certain neurological diseases
  • Cover now available for 11 more conditions, including nine new partial payment conditions
  • Definitions for motor neurone disease and terminal illness
  • Maximum age for cover increased from 60 to 65
  • Children covered for the same number of illnesses as adults

There is a cap of an additional £200,000 on the double payment feature. The new full payment conditions are cardiac arrest and pneumonectomy, while the partial payments are:

  • Accident hospitalisation
  • Arteriovenous malformation of the brain
  • Carcinoma in situ cervix
  • Carcinoma in situ urinary bladder
  • Minor stroke
  • Minor heart attack
  • Non-severe cardiomyopathy
  • Partial third degree burns
  • Testicular carcinoma

It is nice to hear positive news in relation to life insurance companies. LV=’s hybrid approach between traditional cover and severity-based payments throws down the gauntlet to other insurers.

Just remember that Limetree are whole of market insurance brokers. When it comes to finding the best critical illness cover for you we will research not just Liverpool Victoria, but the rest of the market too.

Posted in Income Protection, Insurance, Life Assurance