A look at The History of Critical Illness Insurance

Critical illness insurance has been in South Africa in the year 1983. He, like Medicare founded fear has been known. Critical illness insurance was then in the United Kingdom has introduced this year the 1985th The first policy was then Lloyds of life, now a member of Royal & Sun Alliance submitted.

They tried to sell the product through advertisements in newspapers of service, which has unfortunately led to less than 100 sales policy. In 1986, Lincoln Cannon now has tried to get vaccinated in critical illness. Your success is not huge. It was Abbey Life, which tasted success with critical illness insurance. With the introduction of life insurance "" It took a few months, the company has a new perspective.

The original product for serious diseases. These diseases such as cancer, coronary bypass surgery, stroke, heart attacks, kidney failure and major organ transplants are classified. This type of policy by direct sales companies or agents sold. Soon, other companies have developed the same attitude. But to identify a particular name, this type of policy are not given. sickness, illness and crisis before their arrival was generally used to cover serious illnesses.

also critical illness insurance have been slow at the highest level in the United Kingdom to reach directly (DSF) has resumed. They have achieved great success, and he discovered the market potential and its desire for a serious illness in the 1980s to cover. Few other companies have the same trend in 1990/91 and followed since then stimulates the political criticism of sale of the disease. According to Swiss Re Life and Health Watch May sales of critical illness policies from 150,000 in 1992 to about 900,000 increase in 2001.

Like other Dinani D Grimshaw (March 2000) "A critical review in 1999, more than 800,000 critical illness life policy was purchased, which represents nearly 38 percent of total policy. In addition, about 50,000 people covered by group health plans, representing about 10 percent of the workforce. Although sales growth has been significant, the peak was not reached. Thus, the possibility of further expansion.
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Since a new policy at that time, a serious illness cover sales in excess of income security. The reason why a list of serious political diseases diseases that may appear on customers has been positive defined. Maybe it was time that someone had to do with the claim by the most relevant for people to receive income benefits.

As we have seen, there was a significant increase in critical illness policy as it appeared. People have seen the benefits of critical illness insurance. The lump sum is probably attracted to cover too many people against a serious illness. Critical illness insurance is inexpensive, but not always in the position, benefits, remember that you give. The bottom line is that, before a cover serious illness, you should see the policy documents before reading a lot.

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