We explore the biggest misconceptions about it and share some conversation starters to help grow this important segment of the market.
Visit adviser.guardian1821.co.uk/webinars for the webinar recording and the details of future webinars.
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| Welcome back. This month, we’re tackling common myths around critical illness cover. |
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| We explore the biggest misconceptions about it and share some conversation starters to help grow this important segment of the market. |
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| Critical illness myths – help us bust them! |
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| Critical illness cover has been around for decades, and everyone knows what it does, right? Afraid not. CIExpert’s Critical Thinking Report, which surveyed over 5,000 customers, found that there’s a lack of understanding about critical illness cover, and this is costing us all. |
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| So what are the main misunderstandings? |
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| 17% thought that the critical illness payout must be used to pay off a mortgage 1 |
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| We’re missing out on protecting cutomers who don’t have a mortgage |
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| 32% thought terminal illness cover was the same as critical illness cover 1 |
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| Many customers think their terminal illness cover will pay out if they’re diagnosed with a critical illness |
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| 43% thought a joint life policy was the best option for critical illness cover 1 |
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| Many people don’t understand the benefits of having 2 separate policies |
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| What’s at stake for customers? |
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| A critical illness diagnosis can be life-changing. It’s often not just a case of having to stop working for an extended period, it can mean a complete change to what normal looks like. Critical illness cover allows the policyholder to take time off work and make any necessary immediate changes to their life and lifestyle. Things to think about and discuss with your clients when talking about critical illness cover are: |
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| Changes to their home to improve mobility |
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| The impact on their emotional and mental health |
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| How long they could afford to take off work |
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| Care or rehabilitation not covered by the NHS |
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| NHS waiting lists for treatment (and what they’d do in the interim) |
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| Some conversation starters |
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| Here are some questions to help you approach your clients: |
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- Have you considered how a serious illness could impact your family’s finances, lifestyle and future plans?
- Do you know how much statutory sick pay provides and if it’s enough to cover your outgoings?
- Would you like to see how critical illness cover can help cover medical expenses and rehabilitation?
- Would claims statistics or real-life claims stories help show the value of critical illness cover?
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| What makes our critical illness cover stand out? |
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| For more details on why our cover is so special, including examples of where we pay out when others may not, see our Insights page. |
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Source:
1. CIExpert, Critical Thinking Report 2024, February 2025. |
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| Join our webinar on the real value of critical illness cover |
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| With Rupert Hampshire, Senior Business Development Manager and Paul Roberts, Proposition and Distribution Director, CIExpert |
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| Rupert and Paul are hosting a webinar on Thursday 21 August at 11am for a deep dive into critical illness cover, including how to position it with your clients and how to compare cover across the market using CIExpert. Click the button below to register. |
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| Tip of the month |
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| Edward Durell, Cover Direct |
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| “I always bring up critical illness cover with my clients, because statistically, a serious illness is more likely to happen than a death. I ask what back-up plans or savings the client would have access to if they were ill and off work, to keep up their bill payments, lifestyle and retirement savings. Bringing it up this way helps focus the client’s mind on what they need. They’re then open to thinking about the options and finding out more about the different products on offer.” |
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| That’s all for August. We’ll see you next month for more useful insights. |
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| If you have any questions, please give us a call or send us an email. |
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| Kind regards |
| Your Guardian Team |
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Guardian Financial Services Limited is an appointed representative of Scottish Friendly
Assurance Society Limited. All products are provided by Scottish Friendly.
© 2025 Guardian Financial Services Limited
Guardian Financial Services Limited is an appointed representative of Scottish Friendly Assurance Society Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered office: Galbraith House, 16 Blythswood Square, Glasgow G2 4HJ. Registration number 110002. Guardian Financial Services Limited is registered in England and Wales under number 11115769. Registered office: 11 Strand, London WC2N 5HR. |
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