Life Insurance and Critical Illness Cover - An Independent Guide
Life insurance is a form of insurance designed to provide protection for family members in the unfortunate event of somebody passing away. A life insurance policy can help to relieve some of the financial burden that may be experienced by a family following the loss of a loved one.
Life insurance policies usually involve a lump sum payment being made in the incident of the policy holder dying. The lump sum is paid in return for monthly or annual payments that are taken from the policy holder’s account.
Critical illness cover
In addition to life insurance policies, critical illness cover is also available from insurance providers. This type of cover is often preferable to life insurance because statistics show that a significant proportion of people are likely to develop a critical illness. Critical illness cover payments can be used to provide for the family in the incident that the policy holder cannot work and to pay for treatment.
Many insurance companies offer life insurance policies in addition to critical illness cover and you can often get a deal if you take both policies out with the same provider.
Critical illness cover is designed to protect the policy holder and their dependents. A lump sum will be paid if the holder should be diagnosed with a critical illness. Companies provide a list of critical illnesses which are covered by the policy and you can shop around to see which policy best suits your needs.
Why is life insurance beneficial?
Taking out life insurance helps to ease the burden on relatives and dependents if the policy holder dies. This is a very traumatic time for any family and the last thing you want to be worrying about is not being able to pay bills and struggling to provide for children. Life insurance offers a lump sum payout when the policy holder passes on and this can provide financial help and peace of mind for relatives.
Critical illness cover provides protection for a number of common critical illnesses and payouts can be used to pay for treatment, as well as living costs, to help ensure that you get the treatment you need and do not have to worry about providing for your family or keeping up with household bills.
Finding life insurance
There are hundreds of insurance providers and a whole host of life insurance policies out there, so choosing one policy can be difficult. However, the Internet has made it easier to compare policies and it is well worth spending a few minutes doing some research to ensure that you get the best deal for your money and find a policy that suits your needs and preferences.
- Life Insurance - Intro
- Why should I consider buying critical illness cover?
- Which illnesses are covered?
- How do I compare critical illness cover policies?
- What is the cost of critical illness cover?
- Can I increase my cover after the policy starts?
- How do I make a claim?
- What is level term life insurance?
- What is mortgage protection insurance?
- What are critical illness policies?
- Will any exclusions apply to the critical illness cover?
- What types of critical illness policy are available?
- Who can take out critical illness cover?
- How do I apply for critical illness cover?
- What should I do if I want to complain?