The possibility of becoming seriously ill is higher than the risk of death, therefore it is worth to protect oneself in case such a thing happens, especially that the majority of insurance providers take into account issues such as a heart attack or cancer which unfortunately have been occurring even among young people.
The term ‘critical illness’ means a serious disease which in most cases does not result in death but causes temporary or permanent inability to work and requires significant financial expenses. The pay-out of the amount of insurance may be decided freely by the beneficiary, although it mostly helps people to adapt to new circumstances.
As with the life insurance, this is also a fixed-term policy.
It is important to remember that there are many insurance providers on the market and it is vital to shop around in order to choose the option most suitable for us. The majority of insurance providers automatically take into account critical illness cover for children; usually it is 50% of the amount of the client’s insurance without any additional costs.
Did you know that…?
Critical Illness Cover for £50,000 can be purchased from £14.31 a month?*
*This quote from 06/07/2018 is an estimate only for a 30-year old non-smoking male. Occupation: warehouse worker. Duration of policy: 25 years, guaranteed premiums. The actual premium will depend on individual circumstances. Provider Legal & General.
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