The Intermediary –- June 2026 - Flipbook - Page 86
P RO T E C T I O N
Opinion
Protection
as serious
illness changes
A
dvances in medicine
mean we are seeing
earlier diagnosis
of illness and
improvements in
treatment pathways,
resulting in more people surviving
serious conditions and living with
their long-term effects, rather than
experiencing a single, acute event.
Very welcome news for us all,
yet much of the protection market
remains built around binary
outcomes, with support triggered at
diagnosis without consideration for
what follows.
For advisers, this creates a potential
disconnect between how clients
experience illness and how protection
responds, raising important questions
about whether the policy a person
holds or is looking at will meet realworld needs.
A changing picture
Health outcomes are improving, but
survival oen comes with ongoing
physical, financial and emotional
impacts. It is therefore essential that
the market can offer clients protection
that reflects a longer-term journey,
not just cover a one-off life event.
At the same time, concern around
serious illness remains high. Vitality
research has shown 61% of UK adults
are worried about geing cancer,
with more than half concerned about
having a stroke or heart aack. Yet
only 11% say they hold protection that
would support them in the event of
these conditions.
For advisers, this gap presents
a clear opportunity. Demand
for these products exists, but
engagement is low.
The challenge is helping clients
act earlier, before things go wrong,
and think more carefully about how
84
The Intermediary | June 2026
JUSTIN TAUROG
is CEO at VitalityLife
protection should work over time, not
just at the point of diagnosis.
Falling short
Traditional critical illness cover has
played an important role, but it was
designed for a different landscape. In
many cases, it relies on a single payout
triggered by a defined diagnosis, with
limited flexibility to reflect severity or
changes in health over time.
In reality, illness is rarely that
straightforward. Clients may
experience varying levels of severity,
multiple conditions, or ongoing
recovery needs. An all-or-nothing
model can struggle to reflect this.
In response, parts of the market
are beginning to evolve. At Vitality,
we made the decision a while ago to
move towards a serious illness cover
approach. This recognises different
levels of illness severity, enabling
earlier, partial support, with the
potential for further payouts if
conditions progress or additional
illnesses arise.
This is part of our commitment
to offering cover that works with
clients over their lifetime, not just at
the point of claim, as well as geing
people to take steps to support beer
health today. This reflects a broader
shi towards cover that responds to
how illness develops, rather than
assuming a one-off event.
And expectations seem to be
shiing. Nearly three-quarters
(72%) of consumers say they would
value a policy that continues aer
a claim to provide cover for future
conditions, according to our research.
However, only 28% are aware that
this type of cover exists, highlighting
a clear opportunity for advisers in
bridging that gap.
We are also witnessing this clear
demand for cover that continues aer
Health outcomes are
improving, but survival
often comes with ongoing
physical, financial and
emotional impacts”
a claim ourselves. Vitality data shows
one in 10 Serious Illness claims are
paid to members who have previously
claimed, reinforcing the importance
of ongoing protection rather than a
single event-based approach.
Client conversations
For advisers, this shi creates both
a challenge and an opportunity.
Advisers are well placed to bridge
the protection gap by reframing
conversations. This includes moving
beyond price and payout triggers,
towards a more holistic discussion of
how cover supports clients throughout
their health journey. It also means
helping clients think ahead,
considering not just immediate risks,
but how their needs may evolve over
time and the role of prevention.
Those who can articulate this
broader value will be well positioned
to build deeper client relationships
and deliver more meaningful
protection outcomes.
As the nature of serious illness
continues to change, so too must the
way we think about protection.
The opportunity now is to ensure
that cover evolves in step with the lives
it is designed to protect. ●
