Critical illness cover more critical than ever
Critical illness cover is becoming increasingly important thanks to our rising life expectancy and huge advances in medical science.
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Critical Insurance a wise move
It sounds like a contradiction – and nobody would argue that living longer, or being less likely to die from a serious disease or illness, is a bad thing. But taking out a policy that provides financial support if you are diagnosed with a critical (ie, serious or debilitating) illness may prove to be a very wise move.
What is critical illness cover
Where life assurance pays out on the death of the policyholder, critical illness cover pays a lump sum if you contract one of a fixed number of such illnesses (the exact conditions will vary from one policy to another). It provides a valuable safety net, meaning policyholders can keep paying bills and mortgage payments even if they are too ill to work.
Critical Illness recovery rates
Thanks to improvements in medical science – and even things like having better-equipped ambulances, and better-trained police officers – we are less likely to die from a heart attack than ever before. Survival rates for some types of cancer have fallen because of increased public awareness, which can lead to earlier detection and more successful treatment.
Cheaper Life insurance
This is undoubtedly good news (and has helped make life insurance cheaper today than it has been for a long time). But while you may be less likely to die from certain critical illnesses, you may be more likely to have to live with their effects instead; death can be replaced by an often long, sometimes painful and frequently debilitating recuperation period.
Critical Insurance a very wise move
Similarly, people who would have been arranging funerals fifty years ago may now need to give up work for a while to care for a partner or other family member – and critical illness cover, not life insurance, can provide financial support for both parties during that time.
Critical Illness Cover - whats covered?
The types of conditions covered by critical illness cover are rapidly changing too, as medical advances mean some illnesses are no longer as critical as they used to be – so it is worth checking a policy is right for you before taking it out.
Jump Money is a specialist in critical illness and life insurance cover and is happy to answer any questions you may have related to life insurance, life assurance, term assurance and life cover. The company will strive to fit an insurance package to the exact criteria you need in order to help you avoid buying products you do not need as well as helping you fully understand your purchase.
To find out more about how Jump Money can help you protect yourself and your belongings call now on 0845 8516262 or fill in an online quote form today.
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