Question

How are alternative forms of Critical Illness Assurance different from traditional policies?

a.

They provide a higher sum assured

b.

They offer regular income instead of a lump sum payment

c.

They directly pay health providers for treatment costs

d.

They have shorter survival periods

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).They directly pay health providers for treatment costs Explanation:Alternative forms of Critical Illness Assurance differ from traditional policies as they directly pay health providers for the treatment costs of critical illnesses covered by the policyholder’s insurance, avoiding lengthy reimbursement processes.

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Q. How are alternative forms of Critical Illness Assurance different from traditional policies?
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