Slome: CI market poised for tenfold increase

A new professional insurance trade organization has been established to increase the number of insurance and financial professionals successfully marketing critical illness insurance protection. As part of the launch, membership is being made available free of charge (for 12 months), but only through the end of this year.

The American Association for Critical Illness Insurance (AACII) was founded by Jesse Slome, founder and executive director of the American Association for Long-Term Care Insurance. Many who are active in long-term care insurance know Jesse to be a passionate professional when he undertakes a new project. So consider taking advantage of the free offer.

Slome told me recently he sees an enormous opportunity in the United States for sale of critical illness products, which are already popular in Europe and Canada. While there are currently just 600,000 CI policies in force in the U.S., Slome believes a tenfold increase is possible within the next few years. The industry he perceives is just getting started – very similar to where long-term care insurance was in the early 1990s.