Insurers need to address issues of trust in the critical illness market, but perhaps more importantly they need to convince people of the value of the product. At the moment far too many see critical illness as a nice-to-have product.To Read The Complete Report Kindly Visit: http://www.marketresearchreports.biz/analysis/169847 For All Latest Reports Kindly visit: http://www.marketresearchreports.biz

1. Critical Illness Cover - UK - June 2013
Insurers need to address issues of trust in the critical illness market, but perhaps more importantly they need
to convince people of the value of the product. At the moment far too many see critical illness as a
nice-to-have product. This is despite dwindling state support and statistics that suggest people are
underestimating the chances of suffering from a critical illness.
table Of Content
introduction
abbreviations
definitions
executive Summary
the Market
value Of Critical Illness Premiums Expected To Grow
figure 1: Forecast Of Total New Individual Critical Illness Premiums, At Current Prices, 2007-17
the Invaluable Role Of The Intermediary In Ci Distribution
market Factors
standardisation In Claims Reporting Could Help To Increase Consumer Confidence
income Remains Squeezed Which Is Bad News For Critical Illness Cover Providers
figure 2: Percentage Change In Rpi And Average Weekly Earnings (regular Pay Only), January 2008-march
2013
cancer Is The Main Reason For A Critical Illness Claim
encouraging Signs In The Mortgage Market Should Boost Ci Sales
average Ci Sum Insured Rises With Average Ftb Advance
welfare Reforms Will Pique Interest In Protection Products
impact Of The Rdr Not Yet Clear
impact Of Gender Equalisation Could Result In Premium Increases
consumer Insurance Act Aims To Build Consumer Confidence
companies, Products And Innovations
top Five Providers Accounted For 78% Of The Market In 2012
figure 3: Market Share Of The Top Five Providers Of New Individual Critical Illness Cover, Based On
Volume Sales, 2012
bright Grey Announced £200 Million Critical Illness Cover Giveaway
skandia Re-enters Critical Illness Market With An Rdr World-ready Product
l&g Extends Children’s Ci Cover
lv= Extends Its Critical Illness Cover
the Consumer
some 11% Of People Have Critical Illness Cover In Place
figure 4: Protection Product Ownership, March 2013
financial Peace Of Mind At A Difficult Time Drives Product Ownership
Critical Illness Cover - UK - June 2013

2. figure 5: Reasons For Purchasing, March 2013
consumers Want To Do Their Own Research, But Still Value Independent Advice
figure 6: Purchasing Considerations, March 2013
costly Premiums Are The Main Barrier To Critical Illness Ownership
figure 7: Reasons For Not Owning Critical Illness Cover, March 2013
financial Incentives Would Motivate Consumers To Purchase Ci Cover
figure 8: Factors Which Would Encourage Purchase, March 2013
critical Illness Cover Suffers From Negative Consumer Attitudes
figure 9: Views About Critical Illness Cover, March 2013
what We Think
issues In The Market
what Can The Protection Industry Learn From Other Financial Markets?
how Can Insurers Gain Consumer Trust?
do People Understand The Value Of Ci Cover?
to What Extent Do People Expect To Rely On State Support?
how Will Expanding The Rdr To Include Protection Products Impact The Ci Market?
trend Application
insurers Could Help Consumers To Improve Their Health
consumers Aren’t Opposed To An Open Dialogue About Sensitive Subjects
the Human Touch Is Needed In The Protection Industry
market Drivers
key Points
claims Data Tell A Positive Story But Can They Be Trusted?
squeeze On Income Sees Non-essential Products Fall Down Priority List
figure 10: Percentage Change In Rpi And Average Weekly Earnings (regular Pay Only), January 2008-march
2013
cancer Is The Main Reason For A Critical Illness Claim
an Improvement In The Mortgage Market Is Good News For Ci Cover
figure 11: Number Of Loans For House Purchase, By Type Of Borrower, 2008-12
average Sums Insured Tied To First-time Buyer Advances
figure 12: Average Sum Insured For New Critical Illness Cover Policies Versus Average First-time Buyer
Advance, 2005-12
welfare Reforms Set To Shake Up The Protection Industry
still Early Days To Understand The Impact Of The Rdr
impact Of Gender Equalisation Could Result In Premium Increases
consumer Insurance Act Aims To Build Consumer Confidence
competitor Products
key Points
other Protection Products Dominate The Industry
Critical Illness Cover - UK - June 2013

3. figure 13: Number Of Individual Protection Policies In Force, By Type, 2011
mortgage And Protection Term Sales Include Significant Ci Component
figure 14: Critical Illness Rider Benefits As A Proportion Of New Individual Term Assurance Business,
2008-12
swot Analysis
figure 15: Swot Analysis For The Critical Illness Market, 2013
who’s Innovating?
key Points
bright Grey Announced £200 Million Critical Illness Cover Giveaway
skandia Re-enters Critical Illness Market With An Rdr World-ready Product
l&g Extends Children’s Ci Cover
lv= Extends Its Critical Illness Cover
market Size And Forecast
key Points
growth In Critical Illness Cover Sales Slows
figure 16: New Individual Critical Illness Sales And Average Annual Premium, 2008-12
most Critical Illness Cover Policies Are Sold As Rider Benefits
figure 17: New Individual Critical Illness Sales – Rider Benefit Versus Standalone Policies, 2008-12
overall Drop In Volume And Value Of In-force Standalone Ci Business
figure 18: In-force Standalone Critical Illness Policies, By Volume And Value, 2007-11
group Critical Illness Cover Is A Comparatively Small Market
figure 19: Volume And Value Of New Group Critical Illness Sales, 2008-12
improving Economy Will Support Premium Growth
figure 20: Forecast Of Total New Individual Critical Illness Premiums, At Current Prices, 2007-17
figure 21: Forecast Of Total New Individual Critical Illness Premiums, At Current Prices, 2007-17
more Affordable Policies Will Boost Sales
figure 22: Forecast Of Total New Individual Critical Illness Policies, At Current Prices, 2007-17
figure 23: Forecast Of Total New Individual Critical Illness Policies, At Current Prices, 2007-17
forecast Methodology
market Share
key Points
top Five Providers Accounted For 78% Of The Market In 2012
figure 24: Market Share Of The Top Five Providers Of New Individual Critical Illness Cover, Based On
Volume Sales, 2010-12
legal & General Is The Largest Critical Illness Cover Provider
companies And Products
aviva
Critical Illness Cover - UK - June 2013

4. legal & General
figure 25: Key Financial Data For Legal & General (housing And Protection Business Segment), 2011 And
2012
royal London Group
scottish Widows
friends Life
figure 26: Key Financial Data For Friends Life, 2011 And 2012
lv=
brand Communication And Promotion
key Points
critical Illness Advertising Receives A Big Cash Injection…
figure 27: Total Advertising Expenditure On Protection Products, By Product Category, 2011-13
…but Is Mainly Directed Towards Cancer Cover Products
not Much Is Spent On Critical Illness Cover Advertising
figure 28: Top Four Advertisers Of Critical Illness Products, 2011-13
channels To Market
key Points
intermediaries Operating In The Critical Illness Cover Market
ifas See Their Share Of Critical Illness Rider Benefit Distribution Increase In 2012
figure 29: Distribution Of New Individual Critical Illness Rider Benefit Premiums, By Channel, 2009-12
standalone Critical Illness Cover Distribution Is Also Dominated By Ifas
figure 30: Distribution Of New Individual Standalone Ci Premiums, By Channel, 2009-12
protection Product Ownership
key Points
just Over One In Ten Have Critical Illness Cover…
figure 31: Protection Product Ownership, March 2013
…but Only A Third Of People Aren’t Concerned About Their Health
figure 32: Concerns Around Inability To Work Due To Health Reasons, March 2013
critical Illness Cover Ownership Higher With Big Earners
figure 33: Protection Product Ownership, By Gross Annual Household Income, March 2013
mortgage Holders Are More Likely To Have Critical Illness Cover
figure 34: Protection Product Ownership, By Housing Situation, March 2013
critical Illness Cover Purchase Triggers
key Points
financial Peace Of Mind Is The Main Driver For Critical Illness Purchase
figure 35: Reasons For Purchasing, March 2013
critical Illness Cover Purchasing Behaviour
Critical Illness Cover - UK - June 2013

5. key Points
consumers Want Comparison Sites, Research And Advice When Buying Ci
figure 36: Purchasing Considerations, March 2013
barriers To Critical Illness Cover Ownership
key Points
expensive And Untrustworthy – The Consumer View Of Critical Illness Cover
figure 37: Reasons For Not Owning Critical Illness Cover, March 2013
45-54-year-olds Are Most Distrustful Of Insurers
figure 38: Most Popular Reasons For Not Owning Critical Illness Cover, By Age, March 2013
distrustful Consumers Look For The Cheapest Deal
figure 39: Purchasing Conditions, By Most Popular Reasons For Not Owning Critical Illness Cover, March
2013
increasing The Appeal Of Critical Illness Cover
key Points
cash Incentives, Not Claims Rates Will Get People Interested In Critical Illness
figure 40: Factors Which Would Encourage Purchase, March 2013
reassurance About The Level Of Protection Could Be Bolstered By Independent Research
figure 41: Purchasing Conditions, By Most Popular Factors Which Would Encourage Purchase, March 2013
distrustful Consumers Want To Understand More About Claims Rates
figure 42: Factors Which Would Encourage Purchase, By Most Popular Reasons For Not Owning Critical
Illness Cover, March 2013
attitudes Towards Critical Illness Cover
key Points
negative Consumer Perceptions Of Critical Illness Are Damaging
figure 43: Views About Critical Illness Cover, March 2013
understanding Negative Views Is The Way To Overcome Them
figure 44: Views About Critical Illness Cover, By Most Popular Reasons For Not Owning Critical Illness
Cover, March 2013
ci Cover Expense Can Be Mitigated By Offering Financial Incentives
figure 45: Views About Critical Illness Cover, By Most Popular Factors Which Would Encourage Purchase,
March 2013
appendix – Market Size
figure 46: Forecast Of Total New Individual Critical Illness Premiums, At Current Prices, 2012-17
figure 47: Forecast Of Total New Individual Critical Illness Policies, At Current Prices, 2012-17
appendix – Protection Product Ownership
figure 48: Most Popular Protection Product Ownership, By Demographics, March 2013
figure 49: Next Most Popular Protection Product Ownership, By Demographics, March 2013
Critical Illness Cover - UK - June 2013

6. figure 50: Level Of Savings And Investments, By Demographics, March 2013
figure 51: Next Most Popular Savings Levels, By Demographics, March 2013
appendix – Critical Illness Cover Purchasing Behaviour
figure 52: Purchasing Considerations, By Demographics, March 2013
appendix – Barriers To Critical Illness Cover Ownership
figure 53: Most Popular Reasons For Not Owning Critical Illness Cover, By Demographics, March 2013
figure 54: Next Most Popular Reasons For Not Owning Critical Illness Cover, By Demographics, March 2013
appendix – Increasing The Appeal Of Critical Illness Cover
figure 55: Most Popular Factors Which Would Encourage Purchase, By Demographics, March 2013
figure 56: Next Most Popular Factors Which Would Encourage Purchase, By Demographics, March 2013
appendix – Attitudes Towards Critical Illness Cover
figure 57: Views About Critical Illness Cover, By Demographics, March 2013
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Critical Illness Cover - UK - June 2013