Severity Payments - In the eye of the beholder

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Severity based protection payments have become more common over the year. Phil Jeynes explains why in his overview of 2011

After the turbulence of 2010, the provider community stabilised this year. Yes, three became one with the consolidation of Friends Provident, Axa and Bupa under the Resolution banner but otherwise, despite persistent rumours and some internal reviews, all the major players remained in the game. In fact, there were a good number of product launches and revamps in the protection space, starting with PruProtect launching seven products in quarter one, and including Aviva and Bright Grey adding new critical illness (CI) conditions to their plans, as well as including partial payment categori...

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