An independent survey, commissioned by PruProtect has found 61% prefer severity based critical illness (CI)cover, when comparing to traditional policies.
The survey, of 652 people who either hold or are considering taking out life and/or CI cover, also found claims payment likelihood was preferred over cheap premiums, as 87% said likelihood of payout was the most important aspect of Protection.
PruProtect claimed the survey results give strong evidence that this approach to protection product design is in tune with customer needs and will strengthen confidence among the intermediary community, that offering severity based CI will continue to be received positively by clients.
Justin Taurog, marketing and distribution director at PruProtect, said: "Serious Illness Cover continues to provide the backbone of our on-going growth in the UK market and we have always been confident that severity based cover provides the best value for money for consumers.
"This independent survey demonstrates that our confidence is well placed. We will continue to innovate and improve our product offering with intermediaries and their clients in mind at all times."
