Zurich has responded to complacency in the singles market towards critical-illness cover by identifying opportunities for intermediaries and publishing a consumers' guide entitled, Independent, Single and Sorted.
Zurich has set up a new version of CII plan lifestyle offering rates based on a pay-as-you-go system. Through Allied Dunbar, it is offering a non-smoking 30-year-old male with £100,000 cover over 25 years a monthly rate of £12.20. Zurich currently places 16 per cent of its CII business with Allied Dunbar but hopes to drive the relationship forward.
Zurich's surveyed 500 single people between the ages of 35 and 45 and found that only 6 per cent would consider CII.
Product management and development director Simon Foster says: “With the onset of depolarisation, there is an erosion of the traditional business model and IFAs need to consider new areas of revenue.”