Alan Lakey explores the downward trend for critical illness premiums even in the face of the increasing cost of continuous product upgrades
The cost of life insurance in the UK is the cheapest in the world, even though some countries, like Japan, Switzerland and Singapore evince superior longevity. This low cost theme also extends to critical illness insurance where, against assumed logic, premiums have been reducing for some time. What are the reasons behind this? Andrew Wibberley, director at Alea Risk, believes there are a number of factors behind this trend. Precision underwriting is one factor, where insurers apply premium...
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