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Child critical illness cover comparison tool launched by F&TRC

6 January 2019

Research consultancy group F&TRC has launched new functionality enabling advisers to compare child critical illness cover between insurers.

F&TRC said it updated its adviser research hub, Quality Analyser, to help advisers better understand the changes to child CI, after an increasing number of insurers amended the child CI definitions on their propositions over the past year. The new functionality also seeks to provide advisers with greater insight on the conditions that are most likely to affect their clients’ children and which insurers offer the broadest coverage.

The group has analysed each insurer’s child definitions and scored each from 0 to 100 based on the chances of a client being able to claim if their child was diagnosed with each condition. It has also sourced age banded incidence data which identifies which conditions are more prevalent at different ages of childhood.

Adam Higgs, head of research, adviser services at F&TRC, said: “The child CI market has evolved considerably since it was introduced in the 90s. Advisers have flagged to us that trying to compare the various options and to know what offering is best for their clients is now incredibly complex.”

Higgs added that using an age-banded approach to review conditions would leave advisers better placed to focus on the most appropriate cover for their clients.

Roy McLoughlin, associate director at Cavendish Ware, said it was crucial to be able to focus on the conditions that will really matter to clients.

He said: “Also, most importantly, establishing the providers who are most likely to pay a claim. The level of detail will enable advisers to ensure we continue to identify the best possible cover for clients in an increasingly complex market.”