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Posted on June 28, 2008 by Mike Armstrong | Posted under Insurance
Terminal Illness Insurance V/S Critical Illness Insurance
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Moreover, critical illness conditions continue beyond heart attack, stroke and cancer. Therefore, many insurance companies may now provide people with extended critical illness covers. The extended critical illness cover may vary from one company to another. But we will now have a look at terminal illness related critical illness insurance. Almost all companies provide cover for both types of policies. However, people willing to have an extended critical illness cover may have to ask for a separate quote from their insurers. But the majority of insurance companies may add terminal illness as an extended coverage at no extra cost. Critical illness policies may be considered as comprehensive policies. The reason behind could be that critical illness policies may cover up to 20 critical illnesses. So, it could towards your advantage to get such a critical illness plan even if the price tag is high. This might become helpful to you especially at the time when you suffer from a critical illness. At that time, you could ensure a degree of financial security. Nowadays, critical illness policies may provide cover for blindness in contrast to terminal illness policies. Should you become blind after accident or contract heart attack, your critical illness insurance may provide you with a tax free lump sum. This could help you settle your existing debts, assure living expenses as well as coping with medical treatment charges. The payout may also act as a replacement for your loss income if you are unable to attend work. Here are some of the diseases that your critical illness may cover you against: severe burns, Parkinson's disease, motor neuron disease, ongoing disability, HIV/AIDS resulting from non sexual activity, cancer, heart attack, deafness, and kidney failure among others. Some critical illness policies award coverage against diseases such as Alzheimer's, Bacterial Meningitis, Niles Disease, etc. Furthermore, when you make an application for critical illness cover, the insurers may take certain factor in consideration. These may be described as workplace, health, age, whether you smoke or not among others. Sometimes insurers may take for granted everything you tell them at the time of application. So, it could be against your own advantage if you do not provide a complete disclosure to everything asked to you. Also, many people may seek for a combined critical illness policy. For example, critical illness insurance with life insurance. Should you suffer from a critical illness in the future, the policy may award you a payout with the policy still remaining in force. Thus, your dependants may continue to be secured for a much future time due to the life insurance. Premium payments may also increase according to the risk factors associated with a particular critical illness. For example if you smoke, your chances of contracting lung cancer may increase. Therefore, your premium payments may also take an ascending trend. But considering your life and your family, it may be well worth taking out critical illness cover. About The Author: For more information about Critical Illness Insurance and Critical Illness Cover please visit www.unbeatablelifeandcriticalinsurance.co.uk. |
Tags: CRITICAL ILLNESS INSURANCE, CRITICAL ILLNESS COVER, CRITICAL ILLNESS
