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Products and Solution Development

Complex Decisions On Critical Illness

Critical Illness hospital 2

Critical Illness is a budding option in the group voluntary market, shaped in part by health care reform, more high-deductible health plans and greater employer interest in voluntary products. The challenge for carriers now is twofold: developing a competitive product without getting into an “arms race” of new eligible conditions and liberalized guarantee issue guidelines; and establishing a solid distribution network with effective enrollment procedures. This article focuses on product development. 

Copyright © 2013 by A.M. Best Company, Inc. All Rights Reserved. Reprinted with Permission.
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The Author

  • Mary Johnson
    Director, Marketing Underwriter
    Life, Accident and Specialty Reinsurance
    U.S. Group Reinsurance
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Deciding to enter the group voluntary CI market requires careful considerations to mitigate risk, ensure optimal spread of risk and limit anti-selection.
Download "Complex Decisions On Critical Illness"
  • adverse selection
  • antiselection
  • anti-selection
  • CI
  • Critical Illness
  • Group Life
  • group re
  • portability
  • post-level premium period lapse
  • Product Development
  • voluntary products
  • worksite
  • worksite benefit trends