First off, just to clear up, critical illness cover is not life insurance, life insurance will not pay out upon the incidence of a critical illness. Also, Terminal illness, is usually included in the policy and is completely different from Critical illness also, i.e. Critical & Terminal Cover are definitely not the same.
Critical illness cover is a much more wide-ranging level of cover and statistics show that 1 in 5 men plus 1 in 6 women will usually endure a critical illness before the retirement stage of their lives.
Terminal illness cover cannot be sold as a single policy, but always in combination with another policy, usually than being life insurance or even within a critical illness policy. Individuals can claim under Terminal illness cover if they are diagnosed with an illness by which a GP confirms that you are expected to die within 12 months.
A simple example would be to consider that, if you had a heart attack or lost your sight in some way, you are still able to live for years, thus, your life expectancy couldn't essentially be predicted. So whilst you may have to give up your daily occupation, you could not claim under your life insurance and terminal illness policy. This is where critical illness cover comes to pass. As you are expected to live longer than 12 months, critical illness and life insurance will cover you for years on end. It pays out a great lump sum instantaneously after you are diagnosed with one of the long list of critical illnesses that are covered such as cancer, multiple sclerosis, chronic illness and heart attacks et cetera.
Finding the best critical illness life cover;
The fee of critical illness can vary dramatically between the insurer and certain factors around the condition of the insured individual. So its vital to compare prices for cover and critical illness, but also, critical illness life cover can be very complicated at best, so adequate research, patience is required to enable a sound choice.
Conversley, having the Internet available enables you to do the most of the work at the leisure of your own home and brokers online have chosen businesses like ClickLife to provide a price and policy comparison service.
ClickLife will do the majority of the work for you by automatically contacting their panel of top UK insurers to ascertain the best possible quotes from which then they will phone you to present and compare the quotes.
Top Tips with reference to picking life insurance and critical illness;
1. You can join your life insurance policy with a critical illness policy for potentially no extra cost, thus meaning that you are actually getting the extra life cover at no extra charge.
2. Getting two separate policies' rather than a joint policy may work out slightly more costly, however, if a member (e.g. husband) gets a critical illness and the policy is joint, the policy automatically terminates leaving the other (wife) uninsured.
3. By increasing the cover of your critical illness and life insurance, you could also get your mortgage covered, which offers a whole new level of financial safety.
4. If you have received a critical illness life quote that has worked out to expensive, ask for a quote to be tailored to your budget.
There you have it, straightforward information clearing up some simple false impressions about insurance and critical illness insurance cover.
Peter Goligher invites you to read
cover critical illness insurance and visit sickness accident insurance
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