Use real life scenarios that clients can relate to, and avoid scare tactics when selling CI insurance
Karen Cutler, VP and chief underwriter at Manulife Financial, discusses steps advisors can take to avoid disappointment when selling critical illness insurance. She addresses rated cases, risk factors, and premium tolerance vs face amount as a priority for clients.
Rising costs and rigorous underwriting have many advisors reluctant to sell CI, but experts say the product appeals to many clients
Living Protection geared towards clients who want a smaller amount of coverage
Policy included exclusion for conditions discovered within the first 90 days of purchase
People are living longer, choosing to put of starting a family and supporting adult children and aging parents
Basic plan covers the four most common critical illnesses, and the enhanced plan covers 31 illnesses
Company to focus on savings and investment market
New options let small business owners provide different levels of coverage for different employee groups
Only 58% of Canadians are either preparing, or are currently prepared financially in case they get sick