17th July 2024

The Rising Demand for Health Benefits Beyond Financial Protection

CIExpert’s Critical Thinking 2024 report highlighted the value consumers place on added health benefits such as annual health MOTs, 24/7 GP access, and second medical opinions. Surprisingly, despite these benefits not being contractual or featured in brochures, there was significant enthusiasm for them. The report also indicated that fear of cancer and concerns about the NHS’s ability to provide timely treatment were major factors in deciding whether to take out a critical illness plan.

This fear is understandable, as around 64% of all critical illness claims are due to cancer, including nearly 80% of all female claims. Cancer Research UK states that one in two people will suffer from cancer at some point in their lives, with 54% of sufferers surviving for at least 10 years. There are nearly 400,000 new diagnoses annually, a figure that continues to grow.

A critical illness plan can assist with financial survival, but what about ongoing treatment, mental health, emotional suffering, and the impact on families? 

The NHS has not fully recovered from the Covid pandemic and possibly never will. GP and specialist appointments, diagnoses, and speedy interventions are increasingly difficult to obtain. The worry and concern have risen compared to pre-Covid days, with cancer diagnoses more likely at an advanced stage than before. 

Zurich recently added optional services via Further, including cancer clinical trials support and access to leading oncologists.

One insurer, Unum, has chosen to offer the Reframe Cancer service to its group customers. It is surprising that insurers have not made these services available to individual plan policyholders.

Reframe Cancer provides a specialist cancer nurse for each sufferer and assists with various concerns, whether health, emotional, practical, or financial. These experienced nurses offer personal service at diagnosis, pre-treatment, and post-treatment stages. 

As an industry, we need to explore the services now available, which focus on specific illnesses and are personalised to the customer’s situation. Such provision can conveniently sit alongside broader offerings like Square Health and Red Arc. I recently spent time with the Cancer Nurse Specialists within Reframe Cancer and heard examples of the practical, emotional, and clinical support they provide cancer patients throughout their cancer pathway, whether through the NHS, private care, or a mix of both. The right type of value-added cancer support service, delivered at the right time, can significantly and positively impact patient outcomes. 

A value-added service proposition that goes beyond financial protection to deliver personalised care, speed up treatment, offer emotional and practical support, and improve patient outcomes allows providers to differentiate their offerings. It can help advisers focus on relevant added value services and, most importantly, recognise the drivers for consumers to buy critical illness plans and improve the take-up of these valuable products. We all have a role to play in better understanding the different services available and then increasing the promotion, awareness, and take-up of these services.

Alan Lakey, CI Expert
https://ciexpert.uk/

Protection