UK insurance provider Standard Life has updated its critical illness definitions to be in line with the Association of British Insurers' regulatory changes.
The group has stated that all definitions now match the standard set out by the Association of British Insurers (ABI) but three conditions will exceed the ABI definition, namely Alzheimer’s disease, which results in permanent symptoms; aorta graft surgery for disease; and benign brain tumor, which results in permanent symptoms or surgical removal.
The other definitions will be identical to the ABI definitions. These changes will affect new customers, but for current customers, alterations or options under existing plans where there is no increase in risk will result in the new definitions being applied.
The modifications to the definitions are effective as of April 23, 2007.