Claims will now be paid on policyholders who have any of the following including: a benign intramedullary spinal cord tumour, coronary artery angioplasty on two arteries with 70% blockage, partial loss of sight, pulmonary artery surgery, or removal of one lobe of the lungs.
Claims will also be paid out on policyholders who have either severe Crohn’s Disease, severe ulcerative colitis or the surgical removal of an eyeball.
Wording on several conditions have also been improved upon.
For cancer, additional cover will be provided for holders with malignant basal cell and squamous cell carcinoma.
For HIV infection, cover has been extended worldwide and for all occupations if infection was in the course of duties.
Wording has also been improved upon for holders with ductal carcinoma in situ of the breast, loss of independent existence, multiple sclerosis and stroke.
The payment for ductal carcinoma in situ of the breast has however been reduced to the lower of either £12,500 or 12.5% of the sum assured.
Total and permanent disability has also been negatively changed with the adoption of the Association of British Insurers model wording, requiring failure of three of six tasks.
CIExpert gave the following statement regarding the changes: “These changes have strengthened LV=’s reputation as a forward-thinking protection provider. Our analysis has confirmed that the changes have increased the likelihood of their plan paying a claim which, after all, is the whole point of these policies.”
