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Article: Changing definitions; Earlier identification of serious medical conditions, such as prostate cancer, is going to make critical illness cover increasingly expensive. Nick Kirwan, head of marketing and product development, Scottish Provident, shows how better medical screening w.
- Article from:
- Money Management
- Article date:
- January 1, 2003
CopyrightCOPYRIGHT 2003 FT Business. 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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In the last three years, the critical illness insurance market has shown explosive growth. As more and more people have woken up to the need that they have to protect themselves, insurers have seen a record 2.3m policies being taken out in the last three years. Taking into account joint life policies and the children covered by critical illness policies, this means about an extra five million people covered.
Introduced to the UK in the mid 1980s, critical illness cover was originally slow to take off. However as developments to products in the market become more advanced and the need for critical illness cover became more apparent, it received a much needed boost ...