Prudential's life insurance and critical illness (CI) plan is available to selected IFAs from today, but some industry figures have raised concerns the product may be too complex.
The Prudential Flexible Protection Plan aims to address what it says is a high rate of declined CI claims by covering "serious illnesses" as well as critical illnesses, with payouts linked to the severity of the illness and matched to the financial impact this has on the claimant’s lifestyle. While most CI policies cover around 35 illnesses, the Prudential product covers 267 and therefore protects people at an earlier stage with payouts ranging from 10% to 100%. In addition to the life and/or serious illness cover, consumers can add disability cover, optional child cover, income prote...
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