Eastbridge Consulting Group announces updated report on voluntary critical illness market and products

AVON, CONNECTICUT, USA (October 8, 2013)

Voluntary critical illness continues to be in demand by both employers and employees, hence why the product line continues to show double-digit growth year after year. Carriers are responding to that demand by providing more choices where critical illness products and optional benefits are concerned. The 2013 Voluntary Critical Illness Products Spotlight Report helps carriers better understand the competitive landscape around today’s critical illness plans that are sold at the worksite.

Following are a few findings from the report:

  • Traditional group and medical carriers are mentioned frequently as emerging in the critical illness market.
  • Guaranteed issue for critical illness products is the “norm.” 
  • Carriers are adding coverage for a larger variety of illnesses other than those traditionally associated with heart, stroke, or cancer.

The report includes data from 22 voluntary critical illness products of 20 carriers active in the market including:

  • Results
  • Buyer demographics
  • Product structure and benefits
  • Scope of coverage
  • Underwriting guidelines
  • Claims process/experience
  • Commissions
  • Rates
  • Future trends/changes

With this data, carriers can evaluate their own critical illness products—either those currently on the market or under development—to determine if changes are needed to make their offering more competitive.

The cost of the report is $3,000. For more information, click here. To purchase the report, call (860) 676-9633 or email info@eastbridge.com.

 

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.

 


 

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