Royal London has announced a range of improvements to its specified illness insurance product.
From adding cover for new illnesses to now providing benefits for mental health, the insurer is changing the game when it comes to serious illness insurance.
Royal London now offers full-payment cover for 60 specified serious illnesses, up from 53, and also offers partial payments for 40 illnesses, up from 34.
Here we explore what changes have been announced, and how they could benefit you.
New and improved full payment conditions
Royal London has reviewed its definitions for certain illnesses and added newly qualifying illnesses to its list of specified illnesses that receive full cover payments.
For example, there’s now a new and improved definition for Bacterial Meningitis, meaning Royal London now has the best definition in the market. With this, there is also no requirement to prove that there is a permanent neurological deficit.
New full payment illnesses
The following illnesses will now also receive full payments:
- Drug-Resistant Epilepsy (with specified surgery), which is unique to Royal London.
- Severe Sepsis, which is an illness also unique to Royal London as a full payment condition.
- Cauda Equina Syndrome (with permanent symptoms).
- Myasthenia Gravis (with persisting clinical symptoms).
- Brain Abscess drained via Craniotomy.
- Syringomyelia/Syringobulbia (treated by surgery).
Royal London is now also offering a new full payment for terminal illnesses on non-accelerated policies.
For example, if separate life and serious illness benefits are included on one policy, two terminal illness payments may be paid.
However, with an accelerated specified serious illness policy, one terminal Illness benefit will be paid.
You can discover more about accelerated cover in our guide on serious illness cover.
In the review of its insurance cover, Royal London decided not to remove or downgrade any of the existing conditions covered for full payments.
Cancer cover enhancements
In 2021, cancer was the top cause for specified illness claims for Royal London in Ireland, at 32%.
Royal London’s newest improvements include a new partial payment for Advanced (Non-Melanoma) Skin Cancer, which no other insurer offers.
Cardiac cover enhancements
In 2021, heart-related illnesses made up 13% of serious illness claims for Royal London in Ireland, with heart attacks accounting for 9% of claims alone.
Royal London’s latest cardiac improvements include a new partial payment for Heart Failure (of specified severity), which is a condition uniquely covered by the insurer.
The insurer’s comprehensive cardiac coverage covers heart attacks, heart failure, and heart surgery.
Specified mental health benefits
Despite mental illness proving more challenging to provide insurance cover for than a physical illness, Royal London has become the first provider to introduce a specified illness cover partial payment for adults being treated for a specified severe mental illness.
The insurer’s latest product improvements include a partial payment for:
- A definitive diagnosis from a consultant psychiatrist of any mental illness that has resulted in an admission to a psychiatric ward. Treatment in the ward must have been provided for at least 14 consecutive nights.
- Chronic unremitting symptoms.
- An individual who has not responded to comprehensive management and treatment based on best clinical practice for over 1 year.
Reduced survival period
Royal London has introduced a shorter survival period, cutting it down from 14 days to 10 days.
This means that following the diagnosis of one of the 60 specified serious illnesses we cover, an individual must survive for at least 10 days after the official date of diagnosis in order for a claim to be paid out.
This survival period is also applicable for partial payment cover.
Discover the best serious illness cover for you
You can apply for specified illness cover on bonkers.ie. We’ve partnered with all of the main life insurance providers in Ireland, including Royal London, meaning we can find you the best quotes available for you.
With our easy-to-use serious illness cover comparison service you can review policy prices in just a few seconds. In many cases, you can get covered in less than 1 hour!
Learn how to apply for serious illness cover in our Quickstart Guide on the topic.
Have any questions?
If you have any questions about serious illness cover, let us know!