Highclere Financial Services partner Alan Lakey has developed a critical-illness website which compares the cover available from different providers.
The Critical Illness Insider is due to launch shortly and has been over two years in the making. It will be divided into two parts, with one part for consumers and one for advisers.
The consumer site will explain CI and why it is important. Lakey says it will also encourage consumers to seek advice.
The adviser site will feature comparative tables of the cover on offer from all CI providers. The tables are based on calculations compiled by Lakey which work out incidence rates of various CI conditions.
Providers are scored based on the likelihood of cover paying out.
Lakey says: “Most advisers sell CI on cost and that simply is not good enough. Either advisers are lacking in competence or, far more likely, they are lacking in knowledge.”
The site’s development has been sponsored by Ageas and Bupa although Lakey says that the content is independent.
Adviser subscription is £20 a month, which will include access to the site and updates when changes to cover are made.
Lakey says: “With the FSA’s focus on oral disclosure, this enables advisers to prove they have done due diligence.”