|
|
You can buy pretty much everything over the Internet these days and this most certainly applies to insurance. But the process of buying something over the telephone or Internet means that you do not have the benefit of having a person in front of you to explain something in depth if you do not understand.
Another thing is that as a growing number of people begin to start buying products online, there are new problems that occurteething problems shall we say that keep cropping up as more companies start offering services over the Internet for the first time.
With complex insurance policies like Critical Illness Insurance, a type of insurance where sometimes people do not fully understand exactly what they are buying, it is an area that could become a problem.
The Association of British Insurers thinks so anyway, which is why the organisation is improving the standards of the insurance application process via the telephone or the Internet for different types of health and protection policies, including those for critical illnesses.
A spokesman for the ABI, says: 'Because the mechanics are slightly different when you are applying for a policy on the internet, you need to look at that process slightly separately and that is what we are doing at the moment. It is a piece of work that is on-going and it will improve the application process for telephone and Internet applications.'
The ABI's spokesperson explain that it is not exactly that there have been problems with people buying medical policies like Critical Illness Insurance over the internet before, but the new standards will simply just recognise that buying a financial product over the internet means that financial companies have to change the way they collection personal information.
'It is more a recognition that we need to translate the new good practise that we have put in place on paper to the online and telephone application process. The methods of collecting the information are subtley different,' the ABI said.
The move to improve standards for buying health insurance policies for things like critical illness on line comes after the ABI this year launched various measures to make the steps to buying health policies simpler for both consumers and financial advisers. The organisation also updated guidance specifically for Critical Illness Insurance, offering guidelines on how to bring more clarity to application forms. The entire overhaul of personal medical insurance guidelines meant improvements to the leaflets offering advice on Critical Illness Insurance, the removal of 'memory test' questions like 'have you been to a doctor in the last five years'?and clear warnings on application forms about the consequences if you do not reveal pre-existing medical conditions. The changes came after speaking with cancer charities and other organisations. It was hoped that the guidance would reduce the likelihood that a claim would be declined for non-disclosure of a pre-existing medical condition.
The ABI's spokesperson said, 'Having put in place what we believe to be higher standards of clarity on the application form, we clearly want to apply those higher standards to all forms of underwriting application.'
The work being carried out by the Association for online applications is still work in progress. And it is still unclear when the new standards will be released. But regardless of the time frame, it is certain that they will definitely be released soon. |
| Author: Michael Challiner |
| |
Author Bio:
Car Insurance Service is a large website that offers uk residents car insurance Quotations. |
| This article can be searched using: auto insurance quotes, cheap auto insurance, auto insurance quote, progressive auto insurance |
|
 |
|
| |
Related Articles |
| |
Condoms for Your PC
|
| |
Orange County DUI Lawyers Report Field Sobriety Tests "Designed For Failure"
|
| |
School Buses of Nano Tube Construction
|
| |
Donating a Car
|
| |
Chevy Equinox and Land Rover Freelander
|
| |
Investing in Vehicle Maintenance Can Pay Dividends At Selling/Trade-In Time
|
| |
Driver Education Tests
|
| |
Ready to Start Pimping Your Ride?
|
| |
How To Build Your Own Replica Sports Car
|
| |
Annuities 101
|
| |
|
|
|
|
| |
|
Automobile accidents happen everyday on our roadways in California. If you've been involved in an au ... - Michael Bomberger |
| |
|
While the majority of vehicles sold through online auctions are sold by legitimate sellers, there ar ... - Charles Essmeier |
| |
|
In Australia, you can purchase one unit of the Volkswagen Passat 3.2 V6 FSI for some AUS$54,990. It ... - Tom Bailey |
| |
|
|
| |
|
Gas prices aren't high enough. Really... they aren't. Do you disagree? You should!!Today (october 4t ... - Will Reece |
| |
|
If you choose the 48 MPG car, you could be saving hundreds of dollars in fuel costs each year. I thi ... - Thomas Yoon |
| |
|
The very first time that the Buick Century made its way on the automotive jungle, this vehicle actua ... - Shane Carter |
| |
|
A quick look into the career of the current Formula One World Champion, Fernando Alonso. - Marvyn H |
| |
|
Have you ever been to a web site that asks you to download Macromedia Flash? Have you ever seen a Fl ... - Maxine Winters |
| |
|
| |
|
|
About Us
