1. The Marketplace for Critical Illness Coverage. August 2004. Presented by : Jerry Jacobs, CLU 5416 Yale Street Metairie, Louisiana 70003 Ph#(504)888-2242 Fax#(504)889-1753 Email: [email protected] Introduction What is Critical Illness Insurance?
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The Marketplace for Critical Illness Coverage
Presented by : Jerry Jacobs, CLU
5416 Yale Street
Metairie, Louisiana 70003
Email: [email protected]
What is Critical Illness Insurance?
U.S. Marketplace Trends
Need for Critical Illness Protection
U.S. Critical Illness Marketplace
Why Sell C.I.I.
Q&A/Discussion – Open Forum – Issues/Concerns
Of these, 1.1 million survive at least three (3) years.
form of cancer at some point in their lives.
twice as great as dying.
Source: 1987 Employee Benefits News And Views Magazine
What Is Critical Illness Insurance?
(heart, lung, liver, bone marrow)
30% over the past ten (10) years.
Source: Marketing Edit LIMRA 1997
non-medical expenses, such as:
sufferer is alive. Intended for dependents or beneficiaries.
deductibles/co-pays. May be limited in scope of portability if the
sufferer leaves his/her employment.
monthly income and benefits are dependent upon ability to
to a hospital stay or home nursing requirements.
to exercise choice.
of death (qx)
Life Insurance Product
diagnosis of a critical illness (ix)
Critical Illness Product
be duplicated in a corresponding C.I.I. product by
exchanging the key probability of death (qx) for the key
probability of a diagnosis of critical illness (ix)
Critical Illness Insurance is Flexible
Source: Financial Times 1998
Source: Life Insurance Selling 1997
1997 Net Premiums written by U.S. Companies
N = $5,161,545,733
United States C.I. Marketplace
Individual Life Arena
Group Health Arena
Now ask yourself the question:
Is there a market for C.I.I.?