Alan Lakey: 25 Years of Critical Illness

“The inclusion of additional payment conditions has been a major battlefield”

clock • 4 min read

As part of COVER's 25th anniversary coverage, CIExpert's Alan Lakey reviews how the critical illness space has evolved - for better or worse - in the past 25 years, covering product development, market consolidation and shifting consumer attitudes.

At the start of 1997, critical illness plans had been available for 14 years and had already stumbled from the embryonic plan designs into a more cohesive tableau of plan options. With hindsight, these were the relatively simple and heady days when early-stage prostate cancer was included within the cancer definition and coronary angioplasty was a 100% payment condition.  Also, some insurers such as Allied Dunbar and Aviva paid claims for benign brain tumour on diagnosis without any requirement for permanent deficit or surgery. Scottish Provident and Skandia Life were considered th...

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