• Home
  • Multi-Asset
  •  
    Retirement
    • Pensions
    • Income
    • Investment
    • Regulation
    • Estate planning
    • Equity release
  •  
    Your profession
    • Adviser tips
    • Business models
    • Companies
    • People
  • Regulation
  • Tax planning
  • Protection
  • Diversity
  • Events
  • Whitepapers
  • Industry blogs
  • EM and Asia spotlight
  • Newsletters
  • ESG spotlight
  • Sign in
  • Events
    • Upcoming events
      event logo
      Professional Adviser's Working Lunches in partnership with Orbis Investments - 2019

      Join us in March for the Professional Adviser Working Lunch series in partnership with Orbis Investments.

      • Date: 05 Mar 2019
      • Knutsford, Leeds, Surrey, Bristol
      event logo
      Professional Adviser Working Lunches 2019 - Baillie Gifford & First State Investments

      Professional Adviser is delighted to announce the launch of the new Working Lunches in partnership with Baillie Gifford and First State Investments. Travelling across the UK to provide valuable market insights for Senior Financial Advisers.

      • Date: 13 Mar 2019
      • Southhampton, Worcester, Durham, Norwich, Liverpool, Exeter, Sheffield, Leicester, Nottingham
      event logo
      Professional Adviser 360 2019

      The highly anticipated Professional Adviser 360 conference is taking place on 25th April 2019 at The Brewery in London.

      • Date: 25 Apr 2019
      • The Brewery Chiswell Street London EC1Y 4SD, London
      event logo
      Fund Manager of the Year Awards 2019

      The 2019 Fund Manager of the Year returns on Thursday 27th June 2019, Grosvenor House Hotel, London. Save the date.

      • Date: 27 Jun 2019
      • Grosvenor House Hotel 86-90 Park Lane Mayfair London W1K 7TN, London
      View all events
      Follow our events

      Sign up to receive email alerts about our events

      Sign up
  • Whitepapers
    • Find whitepapers
      Search by title or subject area
      View all whitepapers
  • Sign in
  •  
    •  

      Personalise your on site experience

      Download and use the apps

      Access your subscription from outside of the office

      Get relevant news and insight straight to your inbox

      Sign in
     
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • LinkedIn
    • Newsletters
    • YouTube
  • Register
  • Industry blogs
  • EM and Asia spotlight
  • ESG spotlight
Professional Adviser
Professional Adviser
  • Home
  • Multi-Asset
  • Retirement
  • Your profession
  • Regulation
  • Tax planning
  • Protection
  • Diversity
 
  •  

    Personalise your on site experience

    Download and use the apps

    Access your subscription from outside of the office

    Get relevant news and insight straight to your inbox

    Sign in
 
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Professional Adviser

ABI cancer definitions

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
0 Comments

Working party puts forward new definition of prostate cancer for critical illness cover

The ABI Critical Illness Working Party has proposed a new draft of the cancer definition for critical illness (CI) insurance.

The latest draft follows news of the Government's intention to introduce population-based prostate cancer screenings across the UK.

Related articles

  • Janus Henderson adjusts pricing approach on £2.8bn Property fund
  • 'Broken platform market' exposed by data from the lang cat
  • SJP directed to waive client's exit fees after 'catalogue of errors'
  • Vicki Bakhshi: Five responsible investment themes to watch in 2019
  • Succession Wealth planner becomes CISI Birmingham president

The new definition, which is open to further consultation, means both aggressive and more advanced but slower progressing cases of prostate cancer will be covered but less serious cases will not.

The revised definition includes an extra point excluding all tumours of the prostate, unless they are classified as having a Gleason score greater than six or having progressed to at least TNM classification T2.

An additional change to the wording of skin cancer exclusions, so that only malignant invasive melanoma is covered, has also been proposed.

The party published a consultation paper in April outlining fears of sudden claim increases should the screenings detect more cases of prostate cancer before it becomes life threatening. Two possible solutions were outlined: a premium increase or a change in definition to exclude non-life threatening cases. An overwhelming 80% of respondents opted for the second option.

Nick Kirwan, chairman of the ABI CI Working Party, said the change in definition has been proposed to avoid possible premium increases, which could make CI cover unaffordable.

He said: 'We need to concentrate on ensuring cover continues to meet the needs of consumers at an affordable price. It was felt providers should continue to cover advanced forms of prostate cancer and insurers should be free to offer more cover by changing their premiums if they choose.'

As a result, Brian Lentz, intermediary at Portfolio Insurance Consultancy, said advisers will have to make amendments to the CI sales process and must find out if clients wish to guarantee their cover definitions.

He said: 'Advisers will have to establish whether clients want to guarantee their cover definitions as providers will not be able to make changes to the detriment of the policyholder or guaranteed premiums where cover would cease at the end of the term.' He added that contracts using a renewable term on guaranteed definitions or guaranteed whole of life construction may become more in demand. 'CI contracts will have to change according to advances in medical diagnostics and treatment,' he said. 'Certainty of cover definitions, coupled with affordability, could become the norm to prevent disappointed clients in the future.'


Prostate cancer

1 19,000 cases diagnosed per year.

2 8.500 deaths per year.

3 Government has announced 20-fold increased in funding to research prostate cancer.

4 April 2001 two year government trial of treatments for prostate cancer launches, involves screening 230,000 males aged 50-69.

5 July 2001 ' Government pledges to give more information about disease to men.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

More news

Janus Henderson amends pricing of property funds
  • Property Investment
Janus Henderson adjusts pricing approach on £2.8bn Property fund

To promote 'long-term investment'

  • 15 February 2019
  • Wrap/platforms
'Broken platform market' exposed by data from the lang cat

Switching 'hard and expensive'

  • 15 February 2019
  • Your profession
SJP directed to waive client's exit fees after 'catalogue of errors'

Ombudsman decision

  • 15 February 2019
There might be smaller, more nimble funds performing better than larger ones in the IA universe
  • Investment
How much does fund size matter?

Smaller funds still packing a punch

  • 15 February 2019
Green hand
  • SRI
Vicki Bakhshi: Five responsible investment themes to watch in 2019

To drive progress

  • 15 February 2019
Back to Top

Most read

SJP directed to waive client's exit fees after 'catalogue of errors'
'Broken platform market' exposed by data from the lang cat
Janus Henderson amends pricing of property funds
Janus Henderson adjusts pricing approach on £2.8bn Property fund
Green hand
Vicki Bakhshi: Five responsible investment themes to watch in 2019
Succession Wealth planner becomes CISI Birmingham president
  • About Us
  • Contact Us
  • Marketing solutions
  • Terms and conditions
  • Privacy and Cookie policy
  • RSS
  • Twitter
  • LinkedIn
  • Newsletters
  • YouTube

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017