Ageas kicked matters off in January with a number of solid improvements and they were followed by LV=, Zurich, Aviva and more recently Beagle Street.
Beagle Street is an interesting company as it is the most recent market entrant and has the advantage of starting afresh with concepts and strategies unsullied by outmoded systems and outmoded thinking.
Rather than use the trusted method of seeking distribution via the UKs 20,000 plus financial advisers it has opted for a direct to consumer approach whereby it aims to be the cheapest provider on the various comparison websites whilst offering a robust plan.
This approach may or may not prove a wise long-term strategy. Many consumers need prodding into taking sensible financial decisions and regardless of cost or value for money they will never make the first move. Those consumers who do receive advice will probably end up with one of the more comprehensive but slightly more expensive plans.
Beagle Street’s offering will certainly tempt those consumers who are sufficiently unaware or uncaring to take advice. Their fast application processing is designed to appeal to consumers who do not want to be dogged by underwriting delays and tiresome administration processes.
Those applicants able to provide a clean health, occupation and pastime history will be fast-tracked through to acceptance stage whilst those in poor health may find them an unappealing option.
When Beagle Street launched in July 2012 its product was of the low quality vanilla variety. The recent enhancements, highlighted below, have pushed them up the quality table and ahead of some well-respected insurers who have let their product fall behind as their competitors have made improvements.
July 2013 Improvements
Benign Brain Tumour cover now pays out on surgical removal of the tumour
Coma no longer comes with a 96 hours on life support requirement
Coronary By-Pass Surgery no longer requires the sternum to be split
Heart Attack claim requirements have been lessened by reduction of the Troponin T marker
Heart Valve Surgery no longer requires the sternum to be split
Loss of Limbs has been altered to physical loss of one limb
Major Organ Transplant has been augmented by inclusion of transplant of a lobe of lung or liver
Multiple Sclerosis no longer requires claimant to have had 6 months continuous symptoms
Paralysis has been improved to paralysis of only one limb
Stroke no longer excludes traumatic injury to the brain or blood vessels
Third Degree Burns has been extended to cover 20% of the face
Critical Illness Cover & Equity Release
What Is Equity Release?
Equity release is the use of financial arrangements that provide the owner of a house, or other property, with funds derived from the value of the property while enabling them to continue using it.
How Does Equity Release Work?
Equity release is aimed at homeowners aged 55 and over. It allows you to take some of the value of your home as cash.
Equity Release Financial Advice
Equity release is a specialist type of mortgage aimed mainly at people over 55 years of age, to release a lump sum. But you’ll want to be sure equity release is right for you – talk to the experts.