Aegon UK has made several changes to its personal and business protection proposition, including an update to make it the first UK provider to offer donor cover as part of a critical illness (CI) policy.
Donor cover has been added to the list of additional CI definitions, enabling a living donor to claim £2,500 if they donate a kidney, bone marrow or a portion of lung or liver to a family member.
Other changes to the provider’s CI cover include two new ABI Plus definitions, six additional CI definitions and changes to some of the existing additional definitions.
These additional CI definitions are now available to children, and step-children are also now covered under the policy.
Mr Dougy Grant, protection director at Aegon UK, said it is important to recognise that living organ donors can experience a similar physical, as well as financial, struggle to that of the person receiving the transplant.
He added: “Giving an organ to a family member is a major decision, and people will not be motivated by the money. But extending the coverage means donors will now benefit from some financial support to help them through their recovery after the operation.”
Aegon’s CI policy now provides cover for 60 illness definitions, with 19 definitions exceeding the ABI’s standard definitions, and being classed as ABI Plus.
Alan Lakey, partner at Hemel Hempstead-based IFA Highclere Financial Services and director at CIExpert, said Aegon had followed Zurich in making some substantial improvements to its critical illness cover.
He added: “This upgrade provides an indication that Aegon is upping its game, and ensuring that the gap between it and the ‘top providers’ does not widen unduly.”