"Over the past year we have assessed our customer feedback and claims experiences to better understand how we can improve our products. "
Old Mutual Wealth has added new medical conditions including mental illness and cancer in situ with surgery and improved its children’s cover with eight new child specific conditions.
The firm has also added a First Time Cover option so once a child turns 22 and are no longer covered by their parents policy they can apply for their own cover, without underwriting.
Additionally, a new Additional Care Benefit allows patients who meet the requirements and are still suffering the effects of a long term illness to get an additional £50,000, or the benefit amount if lower, for the extra care they need.
All Old Mutual Wealth critical illness products come with the There For You service, allowing customers to access any of the following services even after a claim: serious illness support; after hospital care; second medical opinion; mental health support; bereavement support and help with long term/old age care.
In 2017, Old Mutual Wealth paid 94.6% of all critical illness claims.
Paul Roberts, head of protection at Old Mutual Wealth, commented: “We all hope that a critical illness won’t happen to us or our loved ones. However, while we hope for the best, it is prudent to prepare for the worst. Our cover aims to be comprehensive as standard, avoiding the need to gamble by choosing which bolt on you may or more importantly may not want to include.
“Over the past year we have assessed our customer feedback and claims experiences to better understand how we can improve our products. We have then designed our upgrade to not only provide cover for a wide-ranging set of illnesses but so that it also provides additional financial support for longer term illnesses, children’s cover and options to reinstate cover after a claim. Similarly, as standard, we include our There For You service which allows people to seek emotional support, or practical advice at any time.”
