Unum’s improved Critical Illness definitions continue to exceed regulatory minimum standards
Today Unum is pleased to announce enhancements to some of our Group Critical Illness Insurance definitions. We believe these new, wider definitions will result in better outcomes for our customers and their people.
What’s changed?
Unum has updated the following definitions:
- Cancer (of the prostate)
Changing how we classify prostate tumours to align with the latest staging criteria of prostate cancer where pathological staging following prostate removal surgery no longer uses previous clinical sub-staging
Cancer (of the skin)
Changed the definition to cover skin cancer that has spread to other organs - Heart attack
Minor updates to the definition to align it more closely to current medical and diagnostic practise.
Thanks to these updates, we’re confident that our Critical Illness offering remains strong and will continue to meet the needs of our customers and their people.
Full details of the changesProudly exceeding Association of British Insurers definitions
Our updates to our Critical Illness policy mean we continue to meet — or, in many cases, exceed — recent updates from the Association of British Insurers (ABI) to its minimum standards for Critical Illness Insurance. Insurers had to at least meet these new standard definitions by January 31st 2024.
However, many of our Critical Illness definitions already met or exceeded the new ABI minimum standards before the ABI released this latest update.
For instance, the ABI required changes to the Alzheimer’s disease definition to include all types of dementia. Previously, the minimum standards did not include a definition for other types of dementia (although insurers often included it separately).
Unum has combined these conditions for some years already to offer a broader definition and better serve employees experiencing dementia. While combining two definitions into one did appear to reduce the number of conditions we covered on paper compared to our competitors, it provided a more robust definition for employees.
Hear from Glenn Thompson, Chief Distribution Officer at Unum UK
“At Unum, we’ve always been proud to push harder and move faster to ensure we deliver the best possible results for employers and employees. Prior to these latest changes, the majority of our Critical Illness definitions already met or exceeded those laid out by the ABI as the minimum standards. By making the minor improvements to our policy outlined above, we feel that our proposition continues to stand out from those based on merely meeting the ABI’s minimum definitions.
“Ultimately, taking care of employees diagnosed with critical illnesses is what’s important to us — and we know it’s important to employers too. These changes are just one example of how Unum places our customers at the heart of what we do, creating maximum impact where it matters most.”
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