While we underwriters do not get directly involved in the sales process for the most part, there are likely some advantages to accrue to us if we suggest some “angles,” if you will, that help our producers make the value of CI policy ownership clear to prospective customers.
This is one approach that I think has merit, especially in the USA.
Critical illness insurance — sometimes referred to as dread disease insurance — is exactly what its name implies: a form of coverage which pays a living benefit when the policyholder contracts one of the impairments named in the contract. These conditions typically include heart attack, stroke, invasive (thus, potentially life-threatening) cancer, and so on.
Think about it…which hospital would you choose with your life on the line? The operative word, of course, is “choose.” To “choose” in this context means having the bucks to make the call…and avoid being involuntarily sent (triaged? sentenced? damned?) to hospital B.
For most of us, the necessary dollars to make an informed choice will only be available if we have critical illness insurance.