CMI Working Paper 52 presents cause-specific claim diagnosis rates for accelerated critical illness insurance, on a ‘lives’ basis, based on data for nearly 16,000 claims settled in 2003 to 2006
Separate sets of rates are included in the paper for males and females and for non-smokers and smokers for ages 30 to 60. In each case, rates have been derived for those causes of claim with at least 200 settled claims during the period:
|Male Non-Smoker||Cancer, Heart attack, Death, Stroke, CABG and TPD|
|Male Smoker||Cancer, Heart attack and Death|
|Female Non-Smoker||Cancer, Death, Stroke and MS|
|Female Smoker||Cancer and Death|
These rates are intended to be illustrative and, in particular, do not form part of the formal AC04 Series of diagnosis rates published in CMI Working Paper 50.
The rates are by no means the only sets of rates that could have been derived from the data. Consequently the Committee is again making available to member offices critical illness spreadsheets containing summarised data that will allow practitioners to experiment with alternative approaches.
The Committee is not undertaking a formal consultation exercise on the rates derived in this paper but, as always, the Committee welcomes feedback.
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