Axa revamps critical illness range

Axa is set to enhance its critical illness (CI) cover following a product review and consultation with advisers.

Added benefits include advanced CI definitions, low-grade prostate cancer cover, enhanced children's cover, and reduced premiums where the insurer is unable to offer cover for cancer or multiple sclerosis.

The addition of low-grade prostate cancer cover follows Government statistics suggesting as much as 25% of newly-diagnosed cases relate to this type of the disease, says the insurer.

It is also doubling the number of children eligible for cover under their parent's insurance and upping the amount it will pay out to people with children from 25% of the sum assured to 50%, or £25,000, whichever is less.

In addition, Axa's CI will now cover thirty-seven conditions, up from thirty-four. Of these, nine have been labelled by Axa as ABI+, meaning they exceed the Association of British Insurer's standard definition to give consumers enhanced CI cover.

Definitions for paralysis of limb, benign brain tumour, third degree burns, coma, coronary artery by-pass and heart valve replacement, loss of hand or foot, heart attack and aorta graft surgery are all ABI+.

David McCormack, protection portfolio manager at Axa, says: "Evolving our CI cover so our definitions are clearer and to ensure it continues to meet the needs of our consumers is essential.

"As we all know life isn't straight forward and by offering greater flexibility through premium reductions and additional benefits, we want to ensure people are covered fairly and for as many relevant circumstances as possible."