Critical Illness Cover
Many people buy a life policy when their circumstances change, usually after buying a house, having a family or both!
Critical illness could result in the loss of income – income which is required to cover:
Mortgage payments
Child care
Your debts
Day to day living expenses
Many people buy a life policy when their circumstances change, usually after buying a house, having a family or both! The life insurance aspect of a policy is designed to cover the cost of the outstanding mortgage debt when you die. Meaning that your family are financially secured. However, if you are concerned about the financial impact of your untimely death then you must also think about what would happen if you became critically ill.
Critical illness cover is a type of insurance that pays out if you have been diagnosed with a life-threatening condition specified in the policy. But you must bear in mind that not all policies cover all critical conditions, which is why we encourage everyone to obtain a quote that covers the market.
Why get a quote?
Getting a quote means that in a short space of time you can speak to one of our life insurance agents who’ll be able to talk to you about the benefits of critical illness cover and seek out the best policy tailored to your needs, looking at the whole of the market.
Acting straightaway means that you no longer need to listen to that nagging voice in your head telling you to arrange critical illness cover!
Critical illness cover is it worth it?
Before you answer this question ask yourself another question. How would you provide for all the day to day running costs of your family if your income was stopped as a result of critical illness?
You could get cancer, it might not be terminal, but it may result in you losing your income or needing to take time off work to recuperate. Getting a lump sum would make things a lot easier and far less stressful. It might even help you get back on your feet. So is critical illness insurance worth it?
If the worst thing happens and you find out that the cancer is terminal you wouldn’t want to waste time worrying about money, would you? Critical life insurance is usually paid out within 30 days or so of diagnosis so that you and your family can get the benefit of your forward-thinking.
Taking out critical illness insurance shows that you are a forward-thinking individual who thinks ahead. Remember, we can’t change the future but we can make provisions for the worst-case scenario – hoping it’ll never happen!