For people with children Axa has increased the percentage of the sum assured they will pay out under the children’s cover benefit from 25 per cent to 50 per cent, or £25,000, whichever is lower as part of their critical illness cover. In addition the number of children eligible for cover has now doubled from two to four.

As well as taking standard life insurance cover which pays out in the event of death, many consumers should also take critical illness cover which will pay out in the event of a number of specified serious illnesses.

Commenting on the improved terms David Hollingworth said ‘Sometimes these policies have been criticised for being too restrictive. It is encouraging that life insurance providers are now offering greater flexibility through premium reductions and additional benefits so that consumers get cover at the optimum price’.

Via EPR Network
More Financial press releases