The American Association for Critical Illness Insurance has begun seeking feedback from insurance agents whose clients have received claims benefits in recent months. The trade association is looking to gather information on how these payments have been disbursed and whether consumers are satisfied with the service of their insurers. Critical illness insurance is a new type of coverage designed to provide care for those that suffer from afflictions such as cancer, heart disease and strokes. As a new form of insurance, information regarding satisfactory practices is scarce, leading the association on its latest endeavor.
This will be the critical illness insurance industry’s first consumer awareness communication initiative. Insurance agents are being encouraged to gather appropriate information from clients and submit it to the trade association. The association will compile this information and release a report detailing the status of the industry later this year. The report will show how the industry works and offer insight to consumers that may be considering buying a critical illness insurance policy.
Information is power in the insurance industry. When consumers are equipped with the right knowledge, they can find the policies that are needed for their situation. The association hopes that its report will bring consumers the information they can benefit from and will be encouraging insurers to communicate more openly with both agents and policyholders in the future.