When deciding which company to go with for life & critical illness there are plenty of things to take into account. Other than the amount and term of cover you also need to think seriously about why you are taking the cover.
When looking at any kind of life insurance or critical illness it’s a good idea to actually place you in the situation of having a diagnosis. Imagine you or your partner have just been diagnosed with a serious critical illness. I know it’s not a nice thing to think about, but imagining yourself in this situation triggers all the problems that could occur with having a critical illness. Lets imagine you have been diagnosed with cancer. Of course for the first few weeks you are going to go through all kinds of emotions. Worry, anger, sadness all of which can cause terrible upset within the family. Take a read of this page (You are now departing from the regulatory site of My Protect Limited. Neither My Protect Limited or Personal Touch Financial Services Limited is responsible for the accuracy of the information contained within the linked site) to give you an idea of what can happen and the emotions people go through when being diagnosed with cancer. It’s not a very nice read, but its reality.
So you have cancer. Your main goal now is to get better and beat the disease. It’s going to be a battle with lots of treatments and sickness and possibly a long drawn out process of all kinds of stresses and strains. The last think you need is money troubles….So you didn’t get any cover in place? You need to still go to work?
You now have to concentrate on beating cancer and holding down a job and bringing in the money to pay your bills. The mortgage does not go away, the council tax does not stop, you still need electric and water. None of your bills will disappear! Nobody is going to start paying your monthly bills for you. The mortgage company are not going to stop charging you.
Unfortunately there isn’t much in the way of financial support for those suffering from cancer or any disease for that matter. There is however plenty of emotional support groups and charities such as www.macmillan.org.uk who do excellent work for cancer sufferers.
But nobody will pay your mortgage
Critical Illness Insurance can help and take all the financial worries away. Make sure you cover ALL your debts. Most people’s biggest debt is a mortgage so make sure this loan amount is covered. But alongside this you may have other debts such as credit cards, car finance or other unsecured lending. As well as covering all the debts many people will look to take out extra cover over and above to help pay for any private medical care. The NHS are good of course but how about a trip overseas to see a specialist in your area of diagnosis? Maybe pay to have the treatment overseas? These are all possibilities that extra money can help with. Along with paying off the mortgage and all your other debts. being diagnosed with something like this is enough of a worry in its self without the added problem of finances. You need to be cocentrating on getting better and not on getting to work on time. Its not something which is nice to think about. And hopefully when you take out critical illness cover you hope to never need it. But if you do need to make a claime you can be rest assured that it will be the BEST EVER insurance policy you have ever taken out. Get an online quote today or speak to one of our qualified advisors to help decide what you need in place.
We use a range of other insurance providers and their products may be more suitable for your needs These articles are for information only and does not constitute as financial advice in any way