Many people are used to planning and paying for a variety of insurances in their lives – from car and house insurances through to mobile phone and pet cover, but they often overlook insuring themselves.

Here are 5 key reasons why you really need to consider covering yourself against critical illness:

You’re not immune

People are over optimistic about their chances of getting a nasty disease but remember, no-one is immune from contracting an illness that could affect the rest of your life and the ability to earn an income.

You’re much more likely to get a critical illness than you are to die

The great news is that more people are surviving critical illness than ever before, but how would you cope if you couldn’t return to work and lose your source of income?

Half of women in Britain have no critical illness insurance

Many women also rely on their partner’s policies but with one in every five claims for critical illness cover being for breast cancer, and about 46,000 people diagnosed each year, women need to prioritise cover and make sure it’s the right policy.

The pay out on diagnosis is tax-free

Designed to ease the financial pressures, a policy will pay out a tax-free lump sum should you become seriously ill or totally disabled. The range of illnesses covered has increased to more than 30, though policies can differ from one company to another, however, all policies should cover seven core conditions.

It’s often not as expensive as most think

Critical illness policies can vary greatly and the final cost to you all depends on your personal circumstances, the medical history of your family, your current lifestyle and your monthly expenditure. A more expensive policy isn’t always the best cover but you need to look closely at what your current income covers each month to know what level your policy needs to be.

So, in a nutshell . . .

Considering how you would meet your monthly expenditure, ensuring that you can pay all bills and more importantly, maintain your mortgage payments to keep your property, will help you identify what level of critical illness cover you’ll need.
Taking the time to plan today for the unexpected in the future will give peace of mind for you and all your family.

Read here about how we can help you with critical illness cover.

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