Critical illness insurance is all about peace of mind. It’sabout preparing for the worst that can happen — and havingsomething to back you up. Although it’s seen a surge in popularityin other countries over recent years, not all brokers are jumpingaboard the critical illness bandwagon quite yet — and that’s amistake, experts say.

“It’s the hottest growth industry in the insurance fieldworldwide, but unfortunately there have been no American insurancecompanies that have placed marketing dollars in their budget forthis product so it is still relatively unknown,” says WilmaAnderson, a financial consultant specializing in critical illness.“Critical Illness insurance is one of the best opportunities foragents to learn how to sell.” Randy Finn, assistant vice presidentof product development at Colonial Life, agrees.

A recent survey by Colonial Life showed that a majority ofemployees — 76 percent — view critical illness coverage as animportant benefit to them in the next five years. However,only 59 percent of brokers view it with the same importance. “So alot of brokers are underestimating the interest in and need forcritical illness insurance – and that means they’re missing anincome opportunity,” Finn says. The product is simple enough toappeal to brokers and employees alike.

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