Voluntary critical illness has quickly become a core voluntary product offering for voluntary carriers, along with voluntary term life, disability, dental and accident coverage. Because it is such a popular product with employees, employers and brokers, an increasing number of carriers are making sure they include a critical illness product in their voluntary product portfolio. As the competitive landscape changes and more carriers offer a voluntary critical illness product, the pressures on benefit structure, pricing and flexibility of critical illness products also increase. With those market dynamics in mind, carriers that want to capitalize on the product’s growth will need to stay abreast of the products they are competing with as well as the sales and service strategies and processes employed by top players and competitors in the market.
The purpose of this report, Voluntary Critical Illness Products, is to review the current and future state of the critical illness marketplace so carriers can better understand how their product compares to the competition and whether changes or updates are needed. The specific topics covered include:
Voluntary Critical Illness Products, a Spotlight™ Report
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.