While applauding the ABI's latest on Total and Permanent Disability, Ian Jefferies says Critical Illness cover needs innovation if sales are to improve
As the protection market has become more competitive over recent years, so too has the complexity of its proposition. We all know that customers over-estimate the likelihood of death and under-estimate the likelihood of critical illness or another type of injury meaning that they cannot work. As a result, customers are left with a false sense of security – a major dis-satisfier when their expectations are not met during their time of need. It’s time for the industry to look at new ways of presenting the product. Innovation and attention to consumers’ needs and expectations are key to unlock...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes