tag:blogger.com,1999:blog-6660460810418738523.post5475400497434796783..comments2023-10-11T07:00:28.936-04:00Comments on RISCARIO INSIDER: WHY CRITICAL ILLNESS INSURANCE REMAINS UNSUCCESSFULUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6660460810418738523.post-35800209320219157232010-10-13T01:14:14.103-04:002010-10-13T01:14:14.103-04:00Poor marketing by insurers is certainly one factor...Poor marketing by insurers is certainly one factor why such policies have not surfaced. People in our country are yet to understand the full potential of such coverage. Many of us have opted for disability insurance policies when we actually have no risks pertaining to injuries. If it's only about severe illnesses, then we should go for <a href="http://www.ampminsure.org/critical-illness/" rel="nofollow">critical illness insurance</a> coverage.Insuranceprophethttps://www.blogger.com/profile/09894593056156230785noreply@blogger.comtag:blogger.com,1999:blog-6660460810418738523.post-88610257292435633192007-11-26T22:11:00.000-05:002007-11-26T22:11:00.000-05:00Thanks for your comment about sales.I used figures...Thanks for your comment about sales.<BR/><BR/>I used figures from "Canadian Individual Critical Illness Insurance", Fourth Quarter Review 2006. It's published by LIMRA International, which is considered a reputable source.<BR/><BR/>Where are your figures from?Promodhttps://www.blogger.com/profile/11239089296177027814noreply@blogger.comtag:blogger.com,1999:blog-6660460810418738523.post-60885787976171043032007-11-26T22:05:00.000-05:002007-11-26T22:05:00.000-05:00By the end of 2003, there were about 170,000 indiv...By the end of 2003, there were about 170,000 individual CI policies in force amounting to CAN$ 170m annualised premiums.<BR/><BR/>The average face amount is about CAN$ 100,000, with an average issue age of 40 and an average annual premium of approximately CAN$ 1,000. In 2003, individual CI sales reached 80,000 policies, generating premium dollars in the range of CAN$ 75m. New business premiums have grown at a rate of 39% per year on average over the past two years and projected sales indicate conservative growth of 14% per year for the next five years.<BR/><BR/>Your stats are different; where do you get yours from?<BR/><BR/>Many thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6660460810418738523.post-63878501827607063752007-05-25T00:26:00.000-04:002007-05-25T00:26:00.000-04:00That's an interesting observation, fourpillars. Th...That's an interesting observation, fourpillars. Thanks for sharing it.<BR/><BR/>Insurance can be seen as a lottery, but it's really a risk-sharing mechanism: collect a bit of money from many people and pay lots to the unfortunate ones who suffer a loss. The goal is to be fair and make some money along the way. Competition keeps prices in check. Multinationals like Met Life (my first fulltime employer), Prudential Life and ING (NN Financial) left the Canadian life & health insurance marketplace in search of greater profits in other countries. <BR/><BR/>Governments have the monopoly on gambling with lottery tickets and casinos :)Promodhttps://www.blogger.com/profile/11239089296177027814noreply@blogger.comtag:blogger.com,1999:blog-6660460810418738523.post-57624558465053200132007-05-24T19:21:00.000-04:002007-05-24T19:21:00.000-04:00I think a lot of people don't get it because it se...I think a lot of people don't get it because it seems like the odds are stacked in favour of the insurance company. Unless you get the exact illness that is in the list you have wasted your money.<BR/><BR/>Life insurance is a bit more black & white.Anonymousnoreply@blogger.com