There are two different types of critical illness insurance available. You can choose to take out a policy where you will be paid a lump sum upon your diagnosis of a critical illness or you can choose a policy where your mortgage will get paid upon the diagnosis of a critical illness.
You may also choose to combine your critical illness insurance with life insurance, though this does mean that your policy will only pay out once. It is cheaper to combine your insurance policies but it may not be beneficial to you. If you were to be diagnosed with a critical illness the critical illness side of the policy would pay out however when you passed away your beneficiary would not receive a payout from the life insurance side of the policy. However if you were to be diagnosed with a critical illness and were to die before receiving a payout then the life insurance side of the policy would pay out to your beneficiary. If you take out a combined there is usually a pre agreed amount of time in which you must live after the diagnosis of a critical illness before you will receive a payout.
Each critical illness policy covers different illnesses some only offer 26 where others offer over a 100, but just because a policy covers many illnesses does not mean it is the better policy. If you know what illnesses you wish to be covered by your policy whether it’s because they’re in the family history or you are just particularly worried about them, then do make sure that your policy covers them. It is your policy and so it should suit your requirements and you should be happy with it.
The payout from your critical illness policy will give you a cash boost allowing you to spend the cash on whatever you wish, you could spend it on your financial commitments, a holiday or specialist care.
The advisors at criticalillness.co.uk will work with you to ensure that you understand about the different types of policies available to you, and they will find you the best policy for you with the information you give them regarding your circumstances. They will be able to tailor a policy so that it suits you and your requirements which will also allow you to let the advisor know of any specific requirements you have for your policy.
Critical illness insurance is effective and affordable for you. If you’re looking for critical illness cover you want to find a policy which will pay out nearer to your diagnosis so that you have more chance of receiving a pay out if you do become critically ill. Critical illness protection can cost you very little if you don’t drink or smoke excessively and have no family history of critical illnesses, if you do have a family history of critical illness then your premiums will be more expensive as you are at a higher risk of being diagnosed with a critical illness. There are many different things which may cause you to have an increase in premiums age and gender are also factored in.
If you are looking for a quote for critical illness protection a specialist company like criticalillness.co.uk will be more than happy to talk to you and give you a quote for critical illness cover or you can use the online quotes generator on their website to find quotes for critical illness cover. Using their online quotes generator allows you to find prices for critical illness cover when you have the chance no matter what time of day or night it is.
Author Resource:
Criticalillness.co.uk are a leading company who specialise in critical illness insurance , they have been selling insurance for many years and will continue to do so for many more years to come.
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