prudential - launch of early stage cw and cw III

prudential has just launched their early stage crisis waiver and crisis waiver III.

what are the benefits of early stage crisis waiver?

Benefits of Early Stage Crisis Waiver

• Upon the diagnosis of an Early Stage Medical Condition, future premiums will be waived for 5 years.
• You may claim the benefits for Early Stage Medical Conditions twice during the term of the policy. The second claim will waive the premium for another 5 years. This is provided the second claim is not for the same Medical Condition as the first claim, and it does not fall within the same category of the first Early Stage Medical Condition.
• You can claim for 10 years waiver of premiums upon the diagnosis of Intermediate Stage Medical Conditions. However, if there was a successful claim under Early Stage Medical Conditions, the Intermediate Stage Medical Conditions Benefit only waives 5 years of future premiums.

what is the benefit of crisis waiver III?

Benefit of Crisis Waiver III

• Your remaining premium payments for the covered benefits are waived upon diagnosis of any one of the specified 30 critical illness.

my comments:

as quite a number of insurers have already launched what i term as 2nd generation critical illness products, prudential is probably the first to launch their early stage crisis waiver.

i reckon the competition will also launch similar early stage crisis waiver under a different name pretty soon.

for insurers still without a 2nd generation critical illness product, my guess is the day is not too far off when we will see this product launch, probably at the start of 2013.