Do I Need Critical Insurance Cover

Do I Need Critical Insurance Cover



Do I​ Need Critical Insurance Cover?
Critical illness insurance can be a​ Godsend for anyone who would suffer financially if​ they were to​ be diagnosed with a​ critical illness such as​ cancer,​ a​ heart attack or​ stroke .​
If something such as​ this should happen,​ then the​ bills would soon mount up,​ bills including your mortgage,​ your medical bills if​ any,​ taking care of​ your family and the​ future - these all come into play.
Critical illness cover gives you​ a​ tax-free lump sum payment that can be used as​ you​ wish .​
Some people pay off their mortgage,​ others use it​ to​ pay for private medical treatment or​ put it​ in​ the​ bank to​ allow them to​ carry on​ paying their every day bills along with making any changes that might have to​ be made to​ their home to​ accommodate their illness .​
The illnesses covered by this policy varies from company to​ company as​ well as​ how much you​ pay for your policy .​
There are many types of​ policy available and the​ level of​ cover will determine how much you​ pay for the​ insurance and also what is​ included in​ the​ cover .​
However the​ policy can be tailored to​ some extent,​ with some companies offering benefits for what you​ can afford to​ pay .​
It is​ imperative that you​ fully understand critical insurance policies,​ as​ with any type of​ insurance there are many exclusions within them .​
Policies will only pay out for the​ conditions which are listed within them and these usually include heart attack,​ stroke,​ any major transplant of​ an​ organ,​ cancer,​ coronary heart by pass and multiple sclerosis .​
However even with these being outlined within the​ policy it​ still doesn't mean that it​ is​ cut and dry,​ for example with some insurers you​ have to​ have proof that your heart problems are not such as​ angina,​ as​ this is​ excluded from some policies .​
So always make sure that you​ read the​ small print and what is​ and is​ not covered by the​ policy .​
Usually there will be a​ waiting period before you​ can make a​ claim on​ a​ policy and a​ critical insurance policy can usually be taken out between the​ ages of​ 17 and 70.




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