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Critical Illness Insurance Cover
Critical illness insurance cover is probably one of the most important insurance types anyone can purchase.
This is due to the fact that it pays out in the event the life insured suffers a critical illness
If you would like to stay here then we have summarised the information to enable you to understand what critical illness insurance is.
Critical Illness Cover is generally available as a standalone plan or as an additional benefit to another plan such as Term insurance whole of life cover or a mortgage endowment.
The point of the benefit is to pay out the sum assured in the event the life or lives assured suffer one of a list of critical conditions.
More often than not people take out life assurance for the right reasons, they want to protect their families standard of living in the event they die. The problem is not many people give consideration to what might happen if they had a serious illness such as a heart attack and did not die.
That is exactly were critical illness insurance cover comes in. The most common use of this type of cover is on a mortgage. This then means that if the unthinkable happens not only the family but the policy holder benefits from the benefit. The benefit pays out and the mortgage gets repaid taking a considerable strain off the finances just when you need it the most.
One of the most important things to bear in mind with Critical Illness insurance cover is regardless what happens after the condition strikes, you and your family still get the benefit. So you could have a heart attack and get better, the mortgage will still be repaid, all this is because it is the diagnosis of the condition that triggers the benefit and not the overall outcome, making it a truly valuable benefit indeed.
Below are some examples of the types of critical illness conditions covered in a cross section of critical illness insurance cover policies available from the life insurance companies:-
Some forms of Cancer
Major organ transplants
Loss of two or more limbs
Loss of speech
Alzheimers disease, however a lot of insurers will restrict the benefit on this condition to pre age 65
Parkinsons Disease again generally restricted prior to age 65
Permanent Total disability before age 65.
Pre Senile dementia pre 65
Third Degree burns
It should be noted that this is not an exhaustive list as such there may be more or less conditions than those stated above in any particular policy, also policy wording and definitions also differ from life insurance company to life insurance company.
With these facts in mind it is always important to seek professional qualified independent financial advice when selecting the best and most appropriate critical illness insurance cover for yourself.
To speak to one of our fully qualified independent financial advisers now either phone 0800 08 33277 or click the contact section on the left of this page and someone will speak to you straight away to help you with your life assurance choices.
If you would just like to know how much it would cost you, then just click on the "quote me" button below and carry out your own free online quote from some of the major life insurance companies in the UK. Remember it's free, it's online, and it's now. Don't forget with our price promise we try to make sure you wont find cheaper anywhere else, if you manage to, tell us!
For More information on Invest & Protect Ltd and their services or for Independent financial advice please visit Investandprotect.co.uk
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