The Association of British Insurers (ABI) has launched a comprehensive initiative to improve Critical Illness Cover (CIC) and it hopes to have implemented the changes by April 2007.
At present, the ABI argues, few consumers actually understand CIC and what benefits it provides. The changes it hopes will be made are intended to make application forms clearer and sales of CIC more transparent.
Jonathon French, a spokesperson for the ABI, said: "This new initiative will improve the clarity of the questions on the applications form so people will not fail to put important information in.
"Insurance providers have been heavily involved in this initiative and they now have until April, 2007 to implement the changes," he continued. "We are aware that it will take time to have all the literature reprinted but hopefully it will happen sooner than the deadline."
CIC is an insurance against financial strain of being diagnosed with a critical illness, such as cancer or some kind of serious physical disability. The range of ailments covered has now typically risen to around 30, although this varies from policy to policy.To read more about insurance, click here.
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