Most critical illness insurance policyholders are 55 or older; men buy higher coverage amounts than women; and claimants overwhelmingly seek benefits for cancer over all other conditions, suggests a new comprehensive study of more than 20,500 individual policies purchased last year.
Two-thirds of CI claims were filed by people age 55 or older, with the remainder found to be men who were younger than that age group, according to data analyzed by the American Association for Critical Illness Insurance and Gen Re, a Berkshire Hathaway Company.
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