Critical Illness  

How to boost uptake of critical illness cover

  • Learn about the likelihood of getting ill and the financial impact on households.
  • Grasp what are the main barriers preventing people from taking out critical illness cover.
  • Understand what the protection industry can do to help advisers talk to clients about critical illness.
CPD
Approx.30min

So, too, are stories in the press about celebrities facing the same diseases and illnesses that may affect us all.

To get people to consider cover, advisers have to humanise the issue.

Talking about the “protection gap” isn’t working, so advisers need to change the conversation.

Let’s ask clients what they would do if they fell ill. 

What is their back up plan? How long would their savings last?

What would it mean for their household?

These are vital questions with real implications for families’ happiness and security.

Craig Brown is a director at Legal and General Intermediary

CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. According to CESI research for the ABI, what percentage of working families would lose over a third of their income if the breadwinner had to stop working?

  2. There are three main barriers to wider uptake of critical illness cover. Which of these is not one of them?

  3. Mr Brown makes the following statement: "Recent research found that one of the biggest barriers in taking out critical illness was a lack of knowledge about the providers paying out." True or false?

  4. For most insurers, which three illnesses account for approximately 80 per cent of all their critical illness claims?

  5. What process is an ideal opportunity to map out the financial risks of a critical illness to the ability to keep up repayments?

  6. Mr Brown says talking about what, is not working?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Learn about the likelihood of getting ill and the financial impact on households.
  • Grasp what are the main barriers preventing people from taking out critical illness cover.
  • Understand what the protection industry can do to help advisers talk to clients about critical illness.

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