HSBC, in the process of transfer to Chesnara’s ownership, has introduced numerous improvements to both its Core and Plus critical illness plans. Post-Covid the NHS has experienced delays in various areas – most notably the extension of waiting lists for operations, currently running at 7.4 million. HSBC CI Plus already includes NHS waiting list cover for six conditions, but this has now been widened to 38 full and additional payment conditions. Also, nine conditions now have a 100% enhanced payment (max £200,000) if diagnosed prior to age 60.
| CI Plus Plan only | Claims for the following 100% and additional payment conditions are paid if admitted to the NHS Waiting List – Cerebral & Spinal Aneurysm, Cerebral & Spinal Arteriovenous Malformation, Crohn’s Disease, 19 Less Advanced Cancers, Lobectomy, Peripheral Vascular Disease, Pituitary Tumour, Pneumonectomy, Removal of the Eyeball, Syringomelia or Syringobulbia and Ulcerative Colitis. The Coronary Angioplasty definition has been upgraded to pay where a single coronary artery has undergone angioplasty or stent insertion. No other treatment is covered. The following conditions are enhanced to pay double the sum insured (max £200,000) if diagnosed before age 60 – Blindness, Heart Failure, Kidney Failure, Liver Failure, Major Organ Transplant, Motor Neurone Disease, Open-heart Surgery, Parkinson’s Disease, Traumatic Brain Injury. The amount payable for an accidental hospitalisation claim has been increased from a fixed £5,000 up to the lower of £50,000 or 50% of the sum insured. All of these changes are for new plans only. |
| New Conditionsfor CI Plus plans | A fixed £5,000 payment for pregnancy complications which also applies to the spouse or partner of the life insured. A nine month qualifying period is applied. |
| Condition Changesfor both the Coreand Plus plans | Benign Brain Tumour and Less Advanced Cancer of the Breast claims are now paid when added to the NHS waiting list. Claims for Less Advanced Cancer of the Breast will be paid if admitted to the NHS waiting list. The Blindness wording is improved by paying where the visual field is reduced to 200 or less of an arc. Intensive care requiring mechanical ventilation has a reduced qualifying period from 10 consecutive days to seven. Less Advanced Cancer of the Prostate is now covered for any form of treatment that removes or destroys cancer cells. Anoxia/Hypoxia is removed as a named condition as it’s been added to the Traumatic Brain Injury wording. |
| Children’s CriticalIllness | Congenital Heart Disease now includes NHS waiting list as a claims trigger. |
CIExpert Verdict
Alan Lakey, Director, CIExpert, said: “These improvements are significant in that they extend the claim potential due to the NHS waiting list coverage and they also reflect the long-term financial impact of suffering certain conditions prior to age 60.
“The introduction of Pregnancy Complications, that also extends to the life insured’s partner, reflects the impact to the family as opposed to the individual.
“Our Critical Thinking research identified concerns amongst consumers about delay in treatment from the NHS, and the introduction of accelerated payments for less advanced cancers is an innovation that will provide significant value for clients going forward as individuals are increasingly considering private treatment to avoid long delays and the potential for their health to deteriorate further whilst they are waiting.
“An impressive and well-thought-out series of improvements which will push both plans up the quality table.”
For more information, partners and advisers can contact us at contact@ciexpert.co.uk.
