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


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27/11

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

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:

Old Mutual Wealth

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

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform based wealth management and protection products delivered by Old Mutual Wealth in the UK & Italy* and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £119 billion in customer investments (as at 30 September 2016).

Old Mutual Wealth is part of Old Mutual plc a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £342.7 billion assets under management (as at 30 June 2016).

*Old Mutual Wealth announced the sale of Old Mutual Wealth Italy to Ergo Italia on 9 August 2016. The transaction is pending completion.

This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.