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Critical illness life insurance providers to be more trustworthy

Date: Fri, 24 Feb 2006

Critical illness life insurance providers are being encouraged to become more trustworthy following a series of negative reports.

Financial research company Defaqto is advising critical illness companies to do more to overturn their poor public image and address concerns that they often refuse to pay out claims.

Defaqto's new report Critical Illness Term Insurance in the UK outlines that companies must try to reassure clients about the benefits of purchasing a critical illness policy.

Report author and Defaqto's head of life & protection Nick Telfer said: "The future for critical illness hinges on rebuilding customer trust and developing products to meet the modern consumers' needs."

He added: "I am concerned that the ultimate result of the current negative views surrounding critical illness is that people will be deterred from considering this type of cover, potentially leaving them wide-open to the consequences of serious illness."

It is hoped that greater cooperation within the industry and further clarification of key insurance terms will help to promote a more positive and caring image to potential customers.


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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.