Critical Illness Cover

Customer profiles

We have recently undertaken segmentation analysis of our Life with Critical Illness customer base. There is a broad cross section of customer types within the base, but the most common types of profile we have are:
Families 35 year old females, 35 year old males, on incomes of £25k per annum or higher.
Younger families 20 year old females, 25 year old males, on modest incomes of £15 / £20k per annum.
People in their late 40s and 50s with good incomes and low financial commitments.

What sales opportunities does this information present?

 

Wider profiling shows that these customer groups predominantly buy Life Cover and tend not to focus on other Menu products. However, because these customer types also form the most common segments of our Critical Illness base it suggests a protection gap might exist for Critical Illness Cover.

Given the life stage these customer segments are at, there are a number of relevant questions that you can ask to determine whether there is a need for Critical Illness Cover and thereby maximise the sales potential of our Menu:

  • Who would pay your mortgage, rent or bills if you couldn't work due to serious illness?
  • How long will your employer pay your salary if you are unable to work due to a critical illness?
  • What financial precautions have you taken to ensure some financial stability for your family if you are taken seriously ill?

Why not arrange an appointment with your customer to review their needs against their circumstances?

Find out more about Accelerated Critical Illness Cover:

  • What's in it for you and your client.... read more button
  • Contact your local Account Manager.... read more button