The critical illness insurance market in South Africa may have been a significant one in the history of critical illness insurance. Critical illness insurance had been an origin of South Africa and was gradually propagated around the world. Nowadays, critical illness cover can be considered as one of the most sought insurance policies worldwide. According to Munich Re, 2000, the extent of life policies accelerated with critical illness may have been in decrease these days.

Insurers may have encountered another problem after the introduction of critical illness cover in South Africa. There had been an elevated number of claims recorded soon after the start of policies. As the majority of early claims mat have been for multiple sclerosis and cancer, it may be assumed that many people self diagnosed the disease before buying a critical illness cover. As a matter of fact, underwriting may have thus been unable to unveil these illnesses. The claims may have therefore been rejected. As a measure of precaution, some policies had included a waiting period. The waiting period may disallow payments to be made quickly. Some waiting period may even reach around six months and can also be applied to specific illnesses like cancer and multiple sclerosis. There may have been a relative downfall in critical illness insurance in the South African insurance market. People have discovered about the MME. But is the amount of cover as significant as with critical illness cover? A vital point still remains that critical illness cover may not only save one’s life but may also help to accommodate the person and his family with his changed lifestyle.