Alan Lakey: Children’s Core Cover versus Enhanced Cover

CIExpert’s Alan Lakey examines how insurers approach cover for children in their critical illness proposition, comparing the comprehensiveness of enhanced cover and the value of core coverage.

At the heart of the advice process is the perpetual trade-off between price and value. This has taken on a keener edge in recent years with many insurers opting to offer a budget critical illness plan alongside a dearer yet more comprehensive version.

This twin plan approach enables them to appeal to advisers who focus on premium and those who focus on the quality option.

We frequently hear from our subscribers how use of the CIExpert system enables them to easily explain the extra benefits within the comprehensive versions, allowing them to convey the added value available at a relatively small additional cost.

Many advisers are aware of the wider cover for the various less advanced cancers and other additional payment conditions yet the substantial differences to children's coverage is less widely known.