SCOR's David Ferguson explores industry perception of total & permanent disability insurance, which, he suggests, seems to be in a much better condition than many might think
For many years, there has been a general industry perception that total & permanent disability (TPD) has presented problems for assessors when it comes to claim. That perception appears to have grown from a history of high claim declinature rates when assessors have often been faced with difficult claims to assess such as subjective and/or complex medical conditions leading to a poor reputation for the product in the industry. Is TPD still a problem? Because of this perception, we felt that...
Subject to certain criteria
Customers asked to reapply after fixed period
Rising to 7.8% in people over 80
‘We could be failing people, when they need us most’
'We must not act as fast-buck profiteers'