Useful Information About Critical Illness Cover In East Asia

Likewise to other countries such as UK, South Africa,under the same type of policy, nearly 949 critical
etc various causes of critical illness exist in East Asia.illness claims over 203,994 policies may have been
In East Asia also, probably most of the critical illnessregistered. Meanwhile, for rider policies, about 185
claims come from cancer. Cancer may have madecritical illness claims out of 292,806 policies could have
around 77 percent of critical illness claims from men.been made by men. As for women, about 238 critical
Meanwhile critical illness conditions such as heartillness claims out of 304,644 policies could have been
attack and renal failure may have also made somemade. Generally, the claim rate for accelerated critical
casualties. They may have brought around 7 percentillness policies may be around 0.708 and for main
of critical illness claims respectively.policies the critical illness claims rate may be around
Furthermore, stroke and other critical illness conditions0.915.
may have produced 4 percent and 5 percent ofIn addition to, as per Liu SY, 2000, the amount of
claims respectively. As for women, around 89critical illness conditions covered in a policy may lead
percent may have claimed for a critical illness such asto the success of an insurance company offering
cancer. This rate is much higher than that of men.critical illness cover. Countries comprising of the East
This could be due to most women suffering fromAsian market may now be offering critical illness
breast cancer. Additionally, women may have alsopolicies that may be covering up to 36 critical illnesses.
made critical illness claims concerning renal failure,Furthermore, more than 50 different illnesses may
stroke, heart attack and other critical illnesshave been given to consumers as benefit triggers.
conditions. The respective percentages could beBut in Taiwan, only seven core critical illness
represented as follows: 7 percent renal failure, 2conditions may be accepted. These could be
percent stroke, 1 percent heart attack and finally 1demonstrated as follows: cancer, stroke, heart
percent other critical illness conditions.attack, kidney failure, coronary artery bypass
As per Munich Re 2000, it had been noted thatsurgery, paralysis and major organ transplant. All the
accelerated critical illness policies may not be asother critical illnesses may be offered by most
exposed to critical illness risks than the main plans.companies in the East Asian market.
Thus, if the critical illness claims data is analysed forThe implementation of additional benefits besides
the accelerated policies results may not be asoriginal critical illness policies may have rather helped
accurate if compared with the results obtained frominsurers to boost up critical illness cover sales. These
the main policy analysis. Therefore, critical illnessbenefits may not have been found on the policy
claims from accelerated policies may have been lowerdocuments. These could have been given by the
than that of main policies. Let's have a look.insurers at the time of making an agreement for a
Results about critical illness claims for men insuredparticular critical illness cover. Some policies may have
under the main critical illness cover may have beenalso added terminal illness as benefit triggers similar to
recorded. Around 736 claims out of 935,563 policiesthe UK where Total and Permanent Disability had
may have been made. Concerning women, insuredbeen added.