Critical illness insurance is also known as dread disease policy or critical illness cover. It is an insurance product in which the insurer is contracted to usually make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy. The policy may also be structured to pay out regular income and the payout may also be on the policyholder undergoing a surgical procedure, for e.g., having a heart bypasses operation. According to the U.S. Department of Health & Human Services, Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. One person dies every 37 seconds in the United States from cardiovascular disease. About 647,000 Americans die from heart disease each yearâ€"that's 1 in every 4 deaths. Heart disease costs the United States about USD 219 billion each year from 2014 to 2015. This includes the cost of medicines, health care services, and lost productivity due to death.

The latest study released on the global 'Critical Illness Insurance' market by AMA Research evaluates market size, trend, and forecast to 2026. The 'Critical Illness Insurance' market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.

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Vendor Landscape China Life Insurance Company (China),Ping An Insurance (China),China Pacific Insurance (China),Aviva (United Kingdom),Legal & General (United Kingdom) ,New China Life Insurance (China),AXA (France),Prudential plc (United Kingdom) ,Aegon NV (Netherland),Allianz SE (Germany),AIG (United States),UnitedHealthcare Group (United States) ,Zurich Insurance Group (Switzerland),MetLife (United States) ,Dai-ichi Life Group (Japan)

On 26 Nov 2018, Legal & General has announced a range of updates across its Critical Illness Cover (CIC), to their Critical Illness Extra (CIx) and Children's Critical Illness Extra (CCIx) offering. Updates include increasing additional payments for CIx to 25% of the sum assured up to a maximum of £30,000, and CCIx to 50% of the sum assured, up to a maximum of £30,000. As well as improving their definitions for heart attack and dementia, and added craniosynostosis to the list of conditions covered under CCIx.

On 10 Sept 2018, Bajaj Allianz Life has entered into the health insurance segment by launching Nationally a critical illness cover 'Bajaj Allianz Life Health Care Goal'. Under this plan, a family of up to 6 members can be covered under one policy in one premium and it covers 36 critical illnesses, including deafness, heart valve surgery and kidney failure requiring regular dialysis, Company CEO and Managing Director Tarun Chugh said at a press conference on the occasion.

Keep yourself up-to-date with latest market trends and changing dynamics due to COVID Impact and Economic Slowdown globally. Maintain a competitive edge by sizing up with available business opportunity in Critical Illness Insurance Market various segments and emerging territory.

Influencing Market Trend

• Rapid Adoption of Machine Learning and AI Technology

Market Drivers

• Increasing Risk of Falling Prey to Life-Style Diseases
• The Rapidly Growing Medical Expenses

Opportunities:

• The Emerging Demand from the Developing Countries

Analysis by Type (Disease Insurance, Medical Insurance, Income Protection Insurance), Application (Heart attack, Life-threatening cancer, Loss of hearing, Loss of speech, Loss of vision, Major organ transplant, Paralysis, Coma, Renal failure, Stroke, Carcinoma in situ, Coronary artery bypass graft, Others), Policy Type (Standalone, Rider {Additional Benefit, Accelerated Benefit}), Premium Mode (Monthly, Quarterly, Half Yearly, Yearly), Age Group (0-19 Years, 20-29 Years, 30-39 Years, 40-49 Years, 50-59 Years, 60+ Years), Gender (Male, Female), Provider (Life Insurance, Health Insurance)

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The regional analysis of Global Critical Illness Insurance Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world. Whereas, owing to rising no. of research activities in countries such as China, India, and Japan, Asia Pacific region is also expected to exhibit higher growth rate the forecast period 2021-2027.

On 27 Nov 2019, AXA Insurance announced the launch of AXA Super CritiCare, a critical illness plan designed to provide all-rounded protection including multiple payouts for early, intermediate and advanced stage critical illnesses up to a total of 600% of the coverage amount, as well as support for customers to take control of their health and well-being with a diabetes management programme, which is the only such offering provided by an insurer.

Table of Content Chapter One: Industry Overview Chapter Two: Major Segmentation (Classification, Application and etc.) Analysis Chapter Three: Production Market Analysis Chapter Four: Sales Market Analysis Chapter Five: Consumption Market Analysis Chapter Six: Production, Sales and Consumption Market Comparison Analysis Chapter Seven: Major Manufacturers Production and Sales Market Comparison Analysis Chapter Eight: Competition Analysis by Players Chapter Nine: Marketing Channel Analysis Chapter Ten: New Project Investment Feasibility Analysis Chapter Eleven: Manufacturing Cost Analysis Chapter Twelve: Industrial Chain, Sourcing Strategy and Downstream Buyers

Read Executive Summary and Detailed Index of full Research Study @ https://www.advancemarketanalytics.com/reports/58651-global-critical-illness-insurance-market

Highlights of the Report • The future prospects of the global Critical Illness Insurance market during the forecast period 2021-2027 are given in the report. • The major developmental strategies integrated by the leading players to sustain a competitive market position in the market are included in the report. • The emerging technologies that are driving the growth of the market are highlighted in the report. • The market value of the segments that are leading the market and the sub-segments are mentioned in the report. • The report studies the leading manufacturers and other players entering the global Critical Illness Insurance market.

Tags: Critical illness insurance Market Size, Critical illness insurance Market Forecast, Critical Illness Insurance Market Trends, Critical Illness Insurance Market Growth, Critical Illness Insurance Market Analysis, Critical Illness Insurance Market Opportunity

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