Almost six in 20 working adults believe the financial impact of suffering a critical illness would be very serious
New products aim to provide more options and flexibility
Firm denied benefits on basis that client misrepresented his medical history
Group insurer says it will cover auto-immune diseases and 40 critical illnesses
Lifecheque boasts enhanced features and improved rates
TD Insurance study finds individuals would need an average of $45,609 in savings if they cannot work for a year
Despite some uncertainties, recent developments have made critical illness insurance more attractive to some clients
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.