Research from Vitality shows that nearly half of critical illness cover (CIC) holders are not aware of the conditions they would be covered for if they needed to claim.
The research also showed that 57% of respondents thought CIC would continue after making a claim, despite this not being the case for traditional coverage. This lack of understanding highlights a so-called "critical illness gap" which the provider is attempting to tackle. Zoe Priselac, managing director, Way More, said: "By understanding this protection gap, as advisers we can help to make sure people have the financial protection they are looking for, for longer, which is where products such as the severity-based cover Vitality offers, comes in." The "critical illness gap" was ba...
To continue reading this article...
Join COVER for free
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.