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Old Mutual Wealth enhances Critical Illness plan to cover all types of heart attack and vascular disease and extended cover for strokes

27/11/2014

Old Mutual Wealth has revealed that from today its critical illness insurance product, ‘Protect’, has been expanded to cover 65 conditions and now includes cover for all types of heart attack* and vascular disease and extended coverage for strokes.

The enhancements will be available to new customers and to existing policyholders that bought Critical Illness cover since April 2013.

Range of cover

Cover has been extended from 56 to 65 illnesses.

Additional conditions covered include sickness or injury that results in at least 10 days in a UK intensive care unit on a mechanical ventilator and Kennedy’s disease, for which Old Mutual Wealth will be the only provider to offer cover in the UK market.

Improvements to existing cover

Old Mutual Wealth is now among the market leaders in paying the full sum assured for all types of heart attack*. Coverage has also been extended to cover both spinal stroke and eye stroke and to include strokes either with or without permanent symptoms.

Improvements to existing definitions mean a range of other conditions will also benefit from increased cover.

Surgery Benefit

Old Mutual Wealth is also making significant improvements to surgery benefit.

Customers will now receive the cover payment in full as soon as they are placed on an NHS waiting list. This means the Old Mutual Wealth Protect product will be among the market leaders in Critical Illness, providing up-front surgery benefits without the need for a quote from a private hospital.

The range of surgeries covered will also expand from 4 to 11, to include brain tumour and major organ transplants.

Old Mutual Wealth Head of Protection Ian Jefferies says:

“Our aim in making these substantial enhancements has been to offer the most comprehensive Critical Illness cover that is available in the market. We have also condensed, simplified and clarified a number of existing conditions in order to make the product easier for customers to understand. Overall these changes will enable us to pay more claims to customers at the most crucial times.”

*Death of heart muscle, due to inadequate blood supply, that has resulted in evidence of acute myocardial infarction. Evidenced by characteristic electrocardiographic changes and rise of cardiac enzymes or Troponins.

For more information contact

Michael GlenisterOld Mutual Wealth020 7778 963807469 144535michael.glenister@omwealth.com

Notes to editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £116.5 billion in customer investments (as at 30 June 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.