Critical Illness Cover Is Extremely Important If You Are In Your Fortes

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Having a critical illness policy is extremely important because illness unfortunately can strike at any time in your life but especially if you are in your fortes.

Critical illness cover pays out a tax free lump sum on being diagnosed with a qualifying critical illness during the term of the policy. Most of these polices will require that you survive for 28 days from being diagnosed with a critical illness to qualify for a payout.

Consumers need to be made aware of the benefits of such life insurance products because this will enable them to have a fall back plan, according to Richard Jones, head of protection at Scottish Widows

Speaking while publishing details of the firm's critical illness cover claims, he said this type of insurance "is extremely important, no matter what the economic climate, as illness can affect us at any time".

"We want to play a key role in helping people take control and prepare for the unforeseen, being there to support and provide them with money when they need it most," he added. According to the firm's figures, cancer, stroke and heart related issues were the main reasons for claiming, with the average age for female claimants being 45 years old and 48 years for men.

Critical illness insurance is aimed at catering for the most common types of severe critical illnesses, said the organisation, which clarified that this means "not all critical illnesses or severity of illness are covered". Taking such cover is especially vital for people with dependants as it offers a financial cushion for them.

Where can I find out more about critical illness cover?
There are many different types of critical illness cover from stand alone policies to life insurance policies with critical illness as a rider benefit. To find out more information on critical illness cover you can visit one of the many online life insurance comparison websites. Many of these have detailed information on the different types of policy available and will allow you to obtain online quotes for critical illness insurance.

If you choose to do this yourself online it is important to check the providers key facts document to see what you are covered for as some polices may not cover you for the illness that most concerns you. An example of this is that some polices provide Childs benefit whereby they will pay out a lump sum should one of your children suffer a critical illness as part of your premium, but know all do. Alternatively you can speak to an independent financial advisor you will be able to provide you detailed advice and recommendations. Many advisors these days offer phone and email based financial advice so you do not have to have them in your home and feel pressured to make a decision on the spot.


About the Author:
Jason Haines is a protection and mortgage advisor at godirect.co.uk, one of the UK's most trusted information site about personal finance.

They have details of the latest UK Life Insurance Quote rates, and offer free critical illness cover for family protection.



Article Originally Published On: http://www.articlesnatch.com


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