This forms part of a range of changes to Aegon’s multi-benefit proposition for both Personal and Business Protection announced today.

Donor cover has been added to the list of additional CI definitions (partials). This cover, currently not offered by any other provider in the UK, enables 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.

The payment will help support donors through the operation and recovery involved in donating an organ.

Other changes to CI cover include two new ABI+ definitions, six additional critical illness definitions (partials) and changes to some of the existing additional critical illness (CI) definitions. These additional CI definitions (partials) are now available to children and step children are also now covered under the CI policy.

Critical illness protection cover changes

• Added three new definitions – Parkinson plus syndromes, Spinal stroke and Neuromyelitis optica (Devic’s disease).
• Added six additional critical illness definitions (partials):
  • Borderline ovarian tumours (low malignant potential) – requiring surgery to remove an ovary
  • Carcinoma in situ of the oesophagus – requiring surgery to remove the tumour
  • Carcinoma in-situ of the testicle – requiring surgery to remove at least one testicle
  • Carcinoma in-situ of the urinary bladder
  • Central retinal artery occlusion or central retinal vein occlusion (eye stroke) – resulting in permanent visual loss
  • Donor cover
• Improved two definitions to make them ABI+:
  • Deafness by lowering the decibel level to 90
  • Motor neurone disease by adding Kennedy’s Disease
• Changed four existing definitions:
  • Benign brain tumour
  • Coronary artery bypass grafts
  • Dementia including Alzheimer’s
  • Heart valve replacement or repair
• Improved payout of up to 25% or £25,000 for the following additional critical illness definitions:
  • Crohn’s disease – with specified severity
  • Partial loss of sight – permanent and irreversible
  • Ulcerative colitis – treated with total colectomy
• Removed the exclusion for carcinoma in situ of the breast
• Removed three definitions and incorporated them into other existing definitions:
  • Alzheimer’s
  • Multiple system atrophy
  • Progressive supranuclear palsy

Life protection changes

• Increased the age when life protection ends taking it from 85 to 90 years old.

Income protection changes

• House person’s cover has increased to £1,500 per month.
• Career break increased to £1,500 per month.
• Changes to the doctors/dentists occupation classifications.

Dougy Grant, Protection Director at Aegon UK, said: “The ultimate aim of any protection product is to reduce financial worry for policyholders and their loved ones or businesses. Several of these enhancements have been made with this in mind.

“Aegon is really excited about the introduction of donor cover to our CI proposition. For years we’ve provided our customers with CI cover for major organ transplants. But it’s important to recognise that living organ donors can experience a similar recovery period and physical as well as financial struggle as the person receiving the transplant. 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.

“In recognition of the increasing likelihood of people getting cancer and living with it for longer, seven of the 60 definitions are now cancer related. We hope this will help people focus on beating the illness free of financial worry.

“Collectively the changes to critical illness, life and income protection put us in a better position to help our customers and pay more claims.”

Aegon’s Personal Protection and Business Protection menus allow customers to shape their protection policy according to their needs. Customers can combine up to five main benefits in one online policy, including life protection, critical illness protection and income protection.

Aegon’s critical illness policy now provides cover for 60 illness definitions, 19 definitions exceed the ABI’s standard definitions and are classed as ABI+.

Aegon paid 97% of CI claims in 2015. This is above the UK average (92.5%)* reported by the ABI recently.

* ABI and GRiD, June 2016 https://www.abi.org.uk/News/News-releases/2016/06/ABI-and-GRiD-publish-whole-industry-protection-claims-figures