One broker we work with has introduced the product and its benefits to every one of its Fortune 100 companies, regardless of industry, with very positive response. In addition, affluent buyers are just as likely to be faced with —and be aware of—gaps in health insurance plans, job insecurity and bankruptcy risks. This increased interest among white-collar workers represents a shift from a decade or so ago, when I believe blue-collar workers were the more likely purchasers of critical illness insurance

Flexible Product Design

• Built on a group chassis
  Agents and brokers who sell our product value its flexibility. Generally, the group product carries with it certain advantages in terms of pricing, guarantee issue limits and portability.

Employers can help protect employees as they opt for higher traditional health insurance deductibles by providing critical illness insurance at a relatively low cost. If employees pick up the costs, it’s easy to handle payments through payroll deduction.

• Critical illness and life insurance: two benefits in one
  A particularly attractive feature specifically related to our design is the life insurance benefit associated with the critical illness benefit we offer. When someone has a condition covered by a typical policy, he or she receives a cash payment. But with our design, the critical illness benefit is part of a life insurance policy, so even if no covered illness occurs, our insured still has a death benefit—something that is unique in the marketplace.

• Plug-and-play flexibility
  What may be most popular, particularly on the group platform, is the plug-and-play flexibility of the benefit. For instance, if an employer has a cancer policy already in place, we can remove the cancer benefit from our critical illness design. The ability to add or remove features offers a tremendous degree of pricing flexibility. In short, agents and brokers have the ability to create a multitude of various plan designs to meet different price point objectives.

A simple concept that’s easy to explain
Employers and individuals are increasingly receptive to discussions about critical illness insurance. Most customers can relate to the need directly, because everyone knows someone who has had a condition. And the concept is quite simple to explain: either you encounter a critical illness or you don’t.

It’s also a natural fit with health care discussions. Agents and brokers that have been selling health insurance recognize the impact of legislative changes. They are looking for other sources of income; critical illness insurance is a logical benefit to help fill select health insurance gaps.

Partner with Dearborn National
Critical illness insurance benefits have the potential to be an important part of any agent’s or broker’s offerings. The product is easy to understand and sell. Consumers clearly recognize the need. The cost is relatively low. In addition, continued changes in traditional health insurance coverage will continue to provide new and exciting opportunities.

The Dearborn National brand companies are trustworthy, financially strong partners who are willing and able to share expertise and offer the platforms and tools to complete the sale. By making Dearborn National your partner, you can make critical illness insurance benefits an important part of the protection and service you offer.

Products and services marketed under the Dearborn National® brand and the star logo are underwritten and/or provided by Fort Dearborn Life Insurance Company® (Downers Grove, IL) in all states (excluding New York), the District of Columbia, the United States Virgin Islands, the British Virgin Islands, Guam and Puerto Rico. The critical illness benefit may not be available in all states.

[1] Gen Re 2010 Critical Illness Insurance Market Survey. The survey was a compilation of all critical illness policies.

[2] The American Journal of Medicine, “Medical Bankruptcy in the United States, 2007: Results of a National Study”.