Is the ‘illness race' on critical illness policies about to start up again? I hope not, because recently some additions to critical illness products seem to have been borne entirely out of the desire to find something to add to the list to create a perceived advantage over other companies' consultants rather than introduce something that has genuine customer value.
Surely creating good customer propositions must mean more than just going to a medical dictionary and finding some obscure new illness to add to your product? I thought I would try to play this game for a while to see what I could come up with. I googled “the rarest serious illness”. The first thing in the list that Google returned to me was called Multifaceted Rudraksha. What a fantastic name for an illness, I thought. Not only does it have a fantastic name, it also doesn’t sound very pleasant does it? Imagine sitting in a consultant’s office and being told that you have Multifaceted Rudr...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
