For most brokers, October could be called Calm Before the Storm of Re-enrollment Month. However, it also is National Critical Illness Awareness Month, which is a good reminder that critical illness coverage can be an integral part of a product portfolio.
"The inclusion of critical illness insurance in your product offerings helps to fill gaps in an insured's insurance protection," says Steve Rowley, life and heath senior account executive for Gen Re in Stamford, Connecticut. "Benefits can be added on a standalone basis, as an additional benefit pool or even as an acceleration of benefits, as in the case of riders to mortgage life insurance policies."
Critical illness insurance provides an unrestricted lump-sum benefit upon diagnosis of a covered condition or event such as cancer, heart attack, stroke, kidney failure or major organ transplant.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
