The American Association for Critical Illness Insurance is offering free membership throughout 2011 for insurance and financial professionals who want to learn more about selling critical illness products.
According to a recent MetLife study, experiencing a critical illness, such as cancer, a heart attack or stroke, can reduce a family's income by more than $12,000 in the first year alone – even with medical coverage in place – primarily due to the inability to work.
"We plan to educate 10,000 insurance professionals during the year and to significantly jumpstart product awareness and ultimately sales," said AACII Executive Director Jesse Slome. "Every agent or broker who has clients in their 30s or 40s will benefit by understanding how simple it is to offer and sell this highly affordable form of protection."
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New voluntary/worksite critical illness sales for 2009 are estimated to be about $225 million, according to Eastbridge Consulting Group. Sales for the past two years have increased significantly for the first time in several years, and the line has doubled since 2007. Despite this positive trend, critical illness sales account for a small percentage of the voluntary industry's overall sales–about 4 percent.
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