The Role of Risk Cover in Critical Illness

Cancer and other critical illnesses bring emotional and financial challenges that can derail lives. In this discussion, Kresantha Pillay, Chief Specialist for Risk Products at Liberty, explores how Liberty is leading the charge in providing financial relief for clients facing these challenges.

With cancer accounting for 32% of Liberty’s critical illness claims, Kresantha emphasises the importance of comprehensive risk cover. She introduces Liberty’s enhanced offerings, including the Cancer Claim Booster, designed to provide additional payouts for advanced-stage, recurring, or terminal cancers. These funds can help clients manage costs for non-traditional treatments, palliative care, or everyday expenses, enabling them to focus on recovery rather than financial stress.

Beyond cancer, Liberty’s Critical Illness Booster offers supplementary payouts for long-term and severe illnesses, ensuring broader protection for clients. Kresantha also discusses the significance of early detection and prevention, highlighting benefits like early cancer cover for pre-cancerous conditions.

This podcast underscores the need for professional financial advice to navigate complex risk products and tailor solutions to individual circumstances. Whether you’re an advisor seeking insights or a client planning for life’s uncertainties, this discussion provides invaluable perspectives on how Liberty is innovating to meet evolving client needs.

Key takeaways

• Cancer is a significant critical illness, making up 32% of Liberty’s critical illness claims.

• Liberty’s Cancer Claim Booster provides additional payouts for advanced-stage, recurring, or terminal cancer diagnoses.

• Critical Illness Booster offers supplementary payouts for severe, long-term illnesses, enhancing financial protection.

• Early detection matters: Liberty now covers pre-cancerous conditions and early-stage cancers.

• The importance of financial advice: Advisors play a key role in navigating complex insurance products and ensuring tailored solutions.

• Liberty’s solutions empower clients to focus on recovery by addressing financial challenges.