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The Progress Of Critical Illness Insurance In East Asia

Critical illness cover appeared in East Asiaby men aged 20-24 followed by 82 aged 25-29,
during the year 1988. Since then, it may have95 aged 30-34, 146 aged 35-39 and 215 aged
been a success for the market. Besides,40-44. Further analysis carried out showed
countries such as Malaysia, Hong Kong,around 160 critical illness claims had been
Singapore and Taiwan all form part of themade by men aged 45-49, 99 aged 50-54, 44
East Asian insurance industry. Companies inaged  50-59  and  finally  8  aged  60-64.
nearly all these countries may have been
marketing critical illness coverAs for women, the critical illness claim
successfully. Let's have a look at therates varied as compared to that of men.
development of critical illness cover in EastAbout 48 claims had been made by women age
Asia.20-24 followed by 82 aged 25-29, 162 aged
30-34, 219 aged 35-39 and 214 aged 40-44.
According to Pakshong CS and Nieder D,additional research showed that around 274
Nov1997, probably all insurance companies maycritical illness claims had been made by
have already launched their first criticalwomen aged 40-44, 220 aged 45-49, 100 aged
illness policy during the mid 1990's.50-54, 55 aged 55-59 and finally 12 aged
Critical illness cover may not have been60-64.
offered only by life insurers but by health
insurers also. Health insurers offeredIf the results are analysed carefully it
critical illness cover with the aim tocould be noted that critical illness claims
provide additional benefits on top of theiramong women may be much higher in contrast to
original policies. Moreover, around 40that of men. For example, 73 more critical
percent of work carried out in connectionillness claims for women could be noted if
with critical illness insurance fromthe age group 35-39 is compared for both men
1994-1995 may have stemmed out from policiesand women. Furthermore, The Life Insurance
in force for a year. As a result, criticalAssociation of the Republic of China
illness cover started to become successful.conducted the "Dread Disease Experience Study
In the year 1996, more than one million1996". This research aimed most at studying
critical illness policies could already bethe Taiwanese experience of critical illness
counted  in  East  Asia.cover. Results may have been positive. Around
2.4 million critical illness policies may
Critical illness claims rates may have alsohave been sold in a year with more than 2,108
been recorded for both men and women. Let'scritical illness claims successfully paid.
have  a  glance.The total sum insured may have been around
TWD 1.24 billion.
Around 42 critical illness claims were made



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