Critical Illness And Life Insurance
Advancements in medical treatments mean that more people are living after being diagnosed with a critical illness. A critical illness life policy usually covers core illnesses such as heart attack, organ transplant, kidney failure and cancer.
You must read the terms and conditions that come with the protection to ensure you know what is covered in the policy you are considering. You would also have to be aware that there are certain exclusions, for example the severity of the heart attack would be taken into account.
When comparing the cost of critical illness insurance you must make sure to compare quotes which are like for like, which means that they cover the same illnesses. Just as with life insurance you can take out term or decreasing, the same applies to critical life insurance. Many times when taking out life and critical illness insurance, children would be covered under your critical illness policy so always check the small print to determine this.
Your family history will also be taken into account which means that if there are illnesses such as heart attack or stroke in your family the cost of insurance will usually be higher. Smokers and individuals who drink will usually have to pay a higher premium than those who do not.