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Why CI insurance hasn't replaced cancer insurance.(FOCUS: CRITICAL ILLNESS INSURANCE)
- Article from:
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National Underwriter Life & Health
- Article date:
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June 20, 2005
- Author:
- Lowerre, Gil; Brazzell, Bonnie
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Copyright informationCOPYRIGHT 2005 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FIVE OR SIX YEARS AGO, article after article was written predicting that the new critical illness insurance products would revolutionize and replace cancer insurance in this country.
After all, the product was an exciting new concept, had done exceptionally well in other countries and it covered cancer as well as other serious diseases. Additionally, critical illness insurance plans didn't suffer from the same negative image as cancer plans. So, it just made sense that the industry would see a decline in cancer sales replaced by an increase in CI insurance sales. Right?
Not exactly. In the worksite arena (where the majority of CI sales have occurred), cancer and CI ...