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Carr in call to axe TPD from CI lists

Total permanent disability should be scrapped from critical-illness insurance policies as it is a flawed concept, says Lifesearch senior technical adviser Kevin Carr.

Carr says problems with measuring and defining TPD have led to
inappropriate and repeat claims.

He says TPD represents only a small percentage of claims and about 50
per cent of these claims are rejected. He says any savings made on
ditching TPD from CI lists could be used to make premiums more
affordable or redirected to provide claim support services.

Scottish Widows marketing director (protection) Nick Kirwan says the
industry should analyse data on TPD claims paid to date. These should
then be classified into categories with appropriate definitions for
each, replacing TPD.

He says: “TPD definition is open to subjectivity but discarding it
is a heavy penalty to pay just because it cannot be easily
assessed.”

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Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.

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