By: Patrick Lim Besides the usual resolutions made at this time of the passage of the old year, I have several wishes that I sincerely hope all insurance companies will give due and worthy consideration for implementation in the new year: A. Standardisation of all application forms B. Have a central pool of underwriters to underwrite applications C. Expand the list of coverage of critical illnesses to include diabetes and other serious illnesses. D. For H&S products, instead of exclusion, implement loading of extra premiums to cover hypertension, diabetes, etc E. All insurers to have joint life mrta and term products F. All insurers to do away with the survival period for standalone 30 critical illnesses products. Note: AXA life has boldly shortened the survival period to a much shorter 7 days for their living enhancer 30 ci standalone product. G. Participating annuity: more insurers to introduce this product H. In addition to guaranteed income, to introduce an additional guaranteed return on top of the guaranteed income. I. For anticipated regular premium endowment products, and for policyholders who opt to leave the cash coupons for accumulation, to offer a minimum guaranteed return rather than the current practise of a floating interest rate which is not guaranteed. J. For participating single and regular premium endowment products - to offer higher guaranteed cash values at maturity. K. For whole life with 30 ci coverage, more insurers to price premiums which are non-reviewable and guaranteed. L. For participating products, to introduce minimum guaranteed bonus structures for both reversionary and terminal/maturity bonuses. M. For regular premium ilp products - to introduce level and guaranteed premiums not unlike AXA life, having already done this for their regular premium ILP product. O. TPD coverage - to expand coverage beyond the current almost universal practise to age 65 years. to do away with the TPD payment installment structure but to pay tpd in 1 lump sum. P. payer benefit rider for 3rd party policies - to introduce joint life cover. Q. Him/her products - to expand list of covered cancers for carcinoma-in-situ and increase sum assured. and so on and so forth because that's all i can think of at the moment just before ringing in the new year. Well, that's my wish list and it will be really interesting to see how many will be fulfilled in 2008. Wishing each and everyone a truly blessed new year. Source: Everything U Need To Know On Insurance