Alan Lakey: The case against stand-alone critical illness

At the recent Cover Protection & Health Summit, I was asked whether I believed that stand-alone critical illness (SACIC) was a worthwhile product. My answer was no and I was astonished to see that the poll of attendees showed over 50% disagreed with me. Now, I am in favour of choice, and fully accept that unknowledgeable or insistent consumers are able and should be able to purchase whatever they wish.  They should be allowed to make their own mistakes, that is free will, but would any adviser who recommends this product be treating his customer fairly, or fulfilling his Consumer Duty...