In the United States, critical illness insurance often is seen as a product that can plug holes in health insurance, but it also can be an affordable alternative to disability insurance.
Insurers in the Netherlands are starting to combine critical illness insurance and disability insurance features in products designed to meet the needs of self-employed individuals, Sabine Fahrig said here Wednesday at the annual disability insurance conference organized by JHA, Portland, Maine. JHA is a disability insurance research, consulting and reinsurance services unit of General Re Corp., Stamford, Conn.
Fahrig is a senior underwriter in the German operations of Gen Re Life Health, a JHA sister company.
Self-employed individuals lost access to basic Dutch disability benefits in 2002, and now more than 40% of self-employed Dutch people lack income protection coverage, in part because individual disability coverage can be very expensive, Fahrig said.