You have health insurance, homeowners insurance, car insurance and a few other policies, but do you need critical illness cover? Critical illness insurance, as it is otherwise called, is a policy that you take out and pay off every month so that should you ever be diagnosed with a critical illness such as heart disease, cancer and other diseases listed in your cover you can get paid. The insurance company usually pays you in one big lump-sum that covers things such as lost income, debts, your mortgage and even alterations to your home such as the installation of ramps for your wheelchair.
The question, though, is whether you really need this kind of insurance. In the past, critical insurance covers were not always to be trusted – somehow, when it came the time for insurance companies to pay up they found ways to void the insurance which is why this kind of insurance was frowned upon.
Today, however, things are different. Insurance companies are more transparent and as long as you have been paying your premiums there is no reason why you should not get compensated in case you are diagnosed with a critical illness. The truth is everyone needs to have a critical illness cover. Even people who are in the best of health are diagnosed with critical illnesses all the time. This means that it could be you one day. If you don’t have critical illness insurance how are you going to go on with your life?
Critical illness insurance is a way of making sure that your life can go on if you are diagnosed with a serious disease that leaves you unable to work. You want to be able to take care of yourself and your family as best as you can and with this kind of cover, you are assured of the future.
What is the best way to buy critical illness insurance?
When you are buying this kind of cover you have to be very careful. You have to look into the diseases that are covered and how much you are paying in premiums. You also have to figure out how much money you would need in case you got ill so that you can take out a premium that will pay you enough. Sounds confusing? It shouldn’t be. If you hire a consultant from Mortgage Advice Services they can walk you through all the decisions that you should make before you take out this kind of insurance. You can find out more on their website, http://www.mortgageadviceservices.co.uk/Labels: critical illness cover, critical illness life insurance, critical illness policy, life insurance policy, Nottingham life insurance advice
