Disclosure Guidelines For Critical Illness Insurance

South Africa's Life Offices' Association (LOA) has developed a 'disclosure grid' with the aim of increasing the transparency of critical illness products and making it easier for patients to compare products in the rapidly expanding market. Under the system, insurance companies should offer products with definitions of disease severity linked to four tiers: A-D, with A being the most severe and D being the least severe disease. The disclosure grid will then indicate what percentage of insurance cover will be paid out for the different severity levels. This proportion will remain at the discretion of the insurance

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