| There had been various causes of critical | | | | approximately 949 critical illness claims out |
| illness in East Asia. As in other countries, | | | | of nearly 203,994 policies could have been |
| probably the most common cause for critical | | | | made. On the other hand, for rider policies, |
| illness in East Asia can be considered as | | | | about 185 claims out of 292,806 policies |
| cancer. A critical illness such as cancer may | | | | could have been made by men. Concerning |
| have brought around 77 percent of claims | | | | women, about 238 critical illness claims out |
| concerning men as in other Asian markets. | | | | of 304,644 policies could have been made. |
| Furthermore, heart attack and renal failure | | | | Roughly, the claim rate for riders may be |
| may have brought a handful of casualties with | | | | around 0.708 and for main policies the |
| only around 7 percent of claims each. | | | | critical illness claims rate may be around |
| | | | 0.915. The low claims rates for riders as |
| Moreover, 5 percent of men had claimed for | | | | compared to that of main policies may even be |
| other critical illness conditions while 4 | | | | shown by age groups. |
| percent had claimed for stroke. On the other | | | | |
| hand, 89 percent of women had claimed for a | | | | Furthermore, according to Liu SY, 2000, for a |
| critical illness such as cancer. If we | | | | company to be able to compete effectively in |
| compare the result to that of men, the effect | | | | the critical illness insurance market may |
| is seen to be more aggressive concerning | | | | depend on the number of diseases it covers. |
| women. Also, around 7 percent of women had | | | | In Hong Kong, Singapore and Malaysia most |
| claimed for renal failure followed by 1 | | | | policies may cover up to 36 critical illness |
| percent for other critical illness | | | | conditions. Also, more than 50 different |
| conditions, 2 percent for stroke and finally | | | | illnesses may have been offered as benefit |
| 1 percent for a critical illness such as | | | | triggers. However, the authorities in Taiwan |
| heart attack. | | | | have only accepted seven critical illness |
| | | | conditions. Many companies may cover seven |
| According to Munich Re, 2000, the accelerated | | | | major diseases. These can be considered as: |
| plans may have been lesser exposed to | | | | cancer, stroke, heart attack, kidney failure, |
| critical illness risks than the standalone | | | | coronary artery bypass surgery, paralysis and |
| critical illness policies. Therefore, a study | | | | major organ transplant. The other remaining |
| about the critical illness claims rates | | | | critical illnesses may be offered by most |
| concerning rider policies may have been less | | | | companies. |
| informative than the main policies. The | | | | |
| reason may be because main policies could be | | | | Many companies add additional benefits |
| higher in number. It had however been noted | | | | besides their original critical illness |
| that critical illness claims for riders may | | | | plans. These benefits may not be found in the |
| have been lower than that of main policies. | | | | policy. For example, apart from covering |
| Let's have a look. | | | | frequent critical illnesses like encephalitis |
| | | | and meningitis, many policies may also add |
| For men insured under the main critical | | | | terminal illness as benefit trigger. By doing |
| illness policy, around 736 claims out of | | | | this, a better marketing for a more valuable |
| nearly 935,563 policies could have been made. | | | | critical illness related product can be done. |
| As for women with the same type of policy, | | | | |