Help is now at hand for intermediaries and IFAs looking to explain the intricacies of critical illness to their clients. A booklet detailing the background to and need for critical illness protection has been launched by Impartial Limited.
The Value of Critical Illness Insurance aims to help consumers make an informed choice and is the second in a series of publications about financial services and products. Previous titles include The Value of Independent Financial Advice and Reaching Retirement with a Pension Plan.
Impartial endorses the concept of independent financial advice and believes there is a lack of awareness about the need for CI insurance and says that there is “considerable scope for IFAs to recommend this type of insurance”.
The booklet looks at the different types of cover available, how critical illness insurance can be beneficial to the individual and their family, the value and cost of the different benefits, and it recommends that consumers should seek independent financial advice The chairman of the original IFA Association CI Working Party (which pioneered the standard definitions of CI wordings) and Impartial managing director, Mike Owen, said: “Too many people think they are covered for every eventuality just because they have taken out a degree of life insurance. Nothing could be further from the truth. CI insurance protects against financial problems due to long periods of convalescence or lifestyle changes.”
The booklet has been given the crystal mark by the Plain English Campaign and is sponsored by a range of insurance companies.
It is available in batches of 100 at just 30p a copy (plus postage and packing). For more information, call 0208 906 6603 or e-mail firstname.lastname@example.org.