Contrasting expected causes of claims for trauma insurance can be useful in considering what conditions are most important.
Chantal Marr from LSM Insurance Canada discusses the importance of critical illness insurance and the leading causes of claims.
In the table below we compare LSM’s figures with QPR’s NZ figures. QPR’s figures are gender specific as the number of claims for males and females for each of the items below can be significantly different. They are also based on claims incidence for the product, rather than population incidence, that means that the heavy weighting for cancer and heart attack comes down a little relative to other causes because the insured age group is younger.
Marr also covers a list of points clients should be sure are discussed with their adviser, such as, type and duration of cover, illnesses covered and restrictions plus any exclusions.
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