Who needs critical illness insurance?
Posted on 20. Oct, 2011 by admin in General
It is a lack of foresight that leads some people to think that they don’t need critical illness cover. If you’re young and healthy you may see it as an unnecessary expense. Hopefully it will be an expense that will turn out to be unnecessary but with diseases like cancer effecting one in three of us at some time or other, it’s a vital piece of security – particularly if you have a mortgage, or your employer doesn’t provide any free cover.
If you have a family critical illness cover becomes doubly important. If you take ill and become unable to work your partner and any dependents will suffer the economic burden allied with the loss of your income. Government benefits are there to protect us in such scenarios but these handouts are only available at sustenance levels rather than in order to keep you in the manner to which you’ve become accustomed.
Critical illness cover can sometimes go as far as to cover dental work. Any surgical procedures required can be performed in a private surgery. Optometrist’s bills can also be covered highlighting the fact that critical illness cover is not just for those of ailing health.
On the contrary in fact, if you’re young you can benefit from reduced premiums and pick up some of the cheapest deals.
Critical illness cover applies to a range of diseases which can afflict any of us at any time. Marketing campaigns are often targeted at over 50’s due to their higher statistical susceptibility to disease and possibly their keener sense of mortality.
When asking whether you need critical illness cover you should question factors such as, whether critical illness insurance came with your mortgage; what benefits your employer might contribute in the event of critical illness; have you any money saved up which you could use instead of insurance.