Canada Life  

Canada Life adds to personal protection

Canada Life adds to personal protection

Canada Life has added 30 conditions to its individual protection products and widened the definitions of some existing illnesses. 

Among the conditions added is a terminal illness cover for children that pays up to £25,000, or 50 per cent of the amount of cover, upon a diagnosis that cannot be claimed for as a critical illness. 

Canada Life has also increased the flexibility of its products by including the ability to increase or reduce the length of a policy, replacement cover on joint life policies, and premium discounts for full cancer exclusion as a result of family history of cancer. 

Meanwhile, a personal nurse service and second medical opinion service has been added to the life insurance terminal illness cover and advance payments are now available ahead of surgery for eleven surgical procedures. 

Natalie Summerson, head of sales at Canada Life Individual Protection, said: "Our enhanced cover gives advisers more reasons to consider our policies for their clients. Improving clarity and after sales flexibility is just as important as increasing the number of illnesses covered.

"As well as providing a better level of protection, making payments earlier does even more to reduce financial pressures when the worst happens."

Adam Higgs, head of research at Protection Guru, said: "Canada Life have made pretty much wholesale changes across the proposition. There are 37 new definitions – 27 of which are partial payment conditions – 27 updated wordings and one condition upgraded from a partial payment to full payment condition. 

"Whilst overall the additions and updates are positive, the change in Coronary Angioplasty definition actually results in less coverage, particularly for older males.

"Outside of this, the addition of a type 1 Diabetes definition massively improves the children’s cover and the updating of their Carcinoma in situ of the breast wording is good to see from a female point of view."