The South African-born cardiac surgeon, who is regarded as a pioneer of CI insurance after launching the first CI policy in South Africa 1983, said the “tide was turning”.
On the Protection Review website, Dr Barnard wrote: “Despite a disappointing initial reaction to CI in the UK, attitudes appear to be changing for the better.
“I am glad to hear that the tide might now be turning, thanks to claims statistics and case studies being published, and when the UK’s welfare reforms really take a grip, more people will be aware of their need to protect their own and their families’ financial health and security,” he said on the site.
He said that, originally, he developed the notion of CI insurance due to changes in the diagnosis and treatment for diseases over the years, but said that as the past 30 years in particular have seen more advances and changes in medicine than the previous 300 years, CI insurance is arguably more relevant now than it has ever been.
Ken McDonald, managing director of Glasgow-based Connect Financial Services, said: “This doesn’t surprise me at all, as CI cover has always been lent more impetus when there is an upturn in the mortgage market – as in recent months – when people are looking to ensure the stability of this investment in times of crisis.”