By Jackie | Published:
August 1, 2009
Hi everyone, when I am explaining to people what I am studying and what I intend to be doing for a living they 9 times out of 10 will ask me “So, what is critical illness cover insurance? From now on I will be refering those people to this post as it should answer all of their questions haha. Lazy on my part but it should certainly help people out there that are struggling to understand.
Serious illness can strike at any age and therefore some people opt to take out a form of insurance which is designed to ease financial strain through a tax-free lump sum payout, particularly by those who have close relatives who rely on them for financial input, often referred to as ‘dependants’ in policy language. This is often called critical illness insurance or critical illness cover.
This cover pays out the agreed sum when the policyholder is diagnosed with a specified range of illness. There will typically be quite a long list of illnesses covered on the policy, but the wording of a company’s deal may differ from one firm to the next. Read More »
Posted in Advantages Of Critcal Illness Cover, Critical Illness Cover, Critical Illness Cover Insurance, Health Insurance | Tagged critical illness, Critical Illness Cover, Critical Illness Cover Insurance, Health Insurance, illness cover, illness insurance, medical health insurance, medical illness, medical insurance, what is critical illness cover insurance |
By Jackie | Published:
July 18, 2009
Sometimes an unexpected critical illness, disability, or a death occurs in our life. We want to be prepared and protected for these situations. This article talks about certain types of critical illness cover plans, companies that offer these types of critical illness insurance plans and basic costs paid monthly or yearly.
The price you pay will depend on a number of things, age being one thing they use to figure your costs. Some employers will offer critical illness cover with their insurance programs.
The critical illnesses that will be covered in your plan will be chosen when you apply for your insurance policy and you will choose how many years the coverage is for. Read More »
By Jackie | Published:
June 21, 2009
By now you all should be beggining to understand that critical illness cover is insurance that helps provide financial support if you are diagnosed with life altering illness. There are lots of different companies that provide this type of coverage and people considering critical illness cover insurance will have a wide range of options when choosing their provider. This type of insurance is often lumped with life insurance and can range in the amount of coverage depending on your lifestyle or health risks.
The Advantages of critical illness cover insurance
For anyone who has been in the hospital with a diagnosis that can significantly alter their lifestyle and potentially be life threatening, the stress of financial burdens should be the last thing on your mind. However, this is usually not the case.
Consider for a moment that all your medical bills are taken care of by your health insurance, there are still financial strains that most people do not consider. Like if you are having in home help if you are not able to care for yourself after your diagnosis. Read More »
By Jackie | Published:
June 14, 2009
It happens so fast. No one expects to be seriously hurt or worse, die in the course of daily living. Yet, it happens and all too frequently. As populations grow, so does the risk of unintentional injury or death. Added to this, is the ever increasing chance of contracting potentially life threatening physical conditions such as cardiovascular and cancer related diseases. Thankfully life and critical illness cover insurance is available to help prepare you and your family for the potential financial hit one you may face during a life time.
The peace of mind experienced by knowing, in case of the unexpected you have at minimum, prepared you and your family financially. Alleviating the stress that comes from overwhelming medical bills is half the battle of getting back to health. The burden of living without you is partially eased in case of fatal disaster.
However, before you run off to purchase life and/or critical illness cover it’s important to know just what these two programs offer, how they differ and what package will best suit you and your families needs. Read More »
By Jackie | Published:
May 23, 2009
When you ask for a quote for life insurance, think also about asking for critical illness cover insurance which could also be given at little or no extra cost to yourself. This cover alongside your life insurance would pay you a lump sum if you are told that you have a critical illness by your Doctor. Critical illness cover is normally only allowed along with life assurance cover, this is commonly known as life and critical illness cover .
If you have been told that you have a critical illness and your cover pays out you may want to use the money to help with medical bills or you may need things done to your house to make you cope better with your condition. your payout from your cover would also be tax free. Critical illness may be classed as heart attacks and kidney problems, cancer, strokes etc.
Critical illness cover is different from Income protection. This is when you have not been able to work for a set length of time, i.e.- about six months and it will pay out a monthly amount. Read More »