Legal & General announce changes to 5 star Critical Illness Cover

The key changes are as follows:

- Policy expiry limit extended from age 65 to 70

- Children’s cover improved, allowing multiple claims up to £50,000

- Third degree burns definition improved

- The ability to quote for CIC on sums assured up to £3 million.

Legal & General recognise that trends show that we are all living longer and we may have to work past retirement age of 65 due to financial pressures. Many people may now find themselves working over the age of 65, for a variety of reasons, either to help fund their retirement, because they want to work longer or to help children and grandchildren.

Due to the difficulties in the housing market too, people may also be taking out mortgages later and for longer and so may need to protect loans that go on past the age of 60 or 65. Thats why Legal & General have extended their maximum expiry age on their CIC product to 70.

Legal & General cover is currently 5 star rated by Defaqto, the independent financial research company, and includes 40 illnesses in total.

Bonnie Burns, Product and technical Director for Legal & General said:

“I am delighted that we have made these enhancements to our CIC policy. More and more people are working beyond the age of 65 and taking out mortgages that run to age 70 and this practice is likely to continue. Feedback from customers and advisers has told us that they want a CIC product that supports their changing financial lifestyle.

"I am confident that these important changes to our CIC product will meet the needs of customers now and for the future."