Why bother with Critical Illness Cover? You wouldn’t be the first to ask this question. You might believe that because you have enough savings or a great Life Insurance policy in place you don’t need Critical Illness Cover as well. You could be wrong. Read below our quick summary of what Critical Illness Cover is all about. You might just decide to look into CIC more…
Put simply, Critical Illness Cover will offer you financial protection if you fall ill to a Critical Illness. The illness has to be on the list of illnesses from the insurer, and you have to pay monthly premiums for this cover to protect you.
Think about it. Life is going pretty good, nice car, nice house, good job… maybe even some kids? Imagine being hit with a serious illness, cancer or a stroke for example, are you going to be able to work? Who will pay the mortgage? Who’s going to look after you? Are you going to pay for private health care or sit on the NHS waiting lists for god knows how long? Critical Illness Cover will pay out a lump sum to help you cope. Financial support while you are recovering is not something you’d take for granted.
The thing about insurance policies is that each individual has different needs, meaning that they’ll be suited to a specific insurance policy. There’s no one-size-fits-all in the insurance world. Have a look at Family Income Benefit, Income Protection Insurance and Mortgage Life Insurance for some other options out there.
Life Insurance – one of the most popular insurance types in the UK market at the present time – will only pay out on your death. While that is great news for the loved ones who need support when you are no longer around, it’s not so great if you fall ill before your time. Think carefully and go over all your options before picking the cover you think you need.
Critical Illness Cover, or Dread Disease policy as it was once called, was first launched in South Africa in October 1983. Since then it has spread across the globe, meaning you can take advantage of this policy from your own country. Way back then there were only 4 conditions covered by this policy: heart attack, cancer, stroke and coronary artery by-pass surgery. This is a constantly evolving and changing policy as it is still relatively new, the state of diseases as well means the conditions covered by the policy are constantly changing: fatal diseases a few decades ago might not need coverage now!
Active Brokers are the experts at finding you the right policy, our advisers monitor and search the entire UK insurance market to find you the best insurance policy. Regardless of your previous medical conditions we will always try our hardest to find you a policy for Critical Illness, Life Insurance or any other kind of personal or business insurance that you may need.