Critical Care Insurance Tips

We may all live longer these days but that doesn’t mean we shouldn’t plan for unforeseen events; fortunately, the benefits of critical illness insurance are being experienced by many people who have seen this make a big difference just when they needed it. Providing financial peace of mind for your family by taking out protection for a mere few dollars each week, does not seem as important to most of us as having that luxury cup of coffee every day during lunch.

Unfortunately, despite longer lives, we are not generally healthier and insurance providers now routinely offer cover in their policies as there is a reasonably high probability of contracting a serious condition.

Research has shown that men are more likely to contract a serious condition than women with a figure of twenty percent before the age of 65. Women fair a little better with around 15 percent being diagnosed prior to retirement.

Lack of knowledge or belief in the chances of contracting an illness like this might be the main reason why so few adults take out critical illness insurance protection, according to insurance companies. The main reason critical illness cover is to protect mortgage repayments and this is why insurance companies will normally offer it as part of a mortgage agreement.

Increasingly, the internet is being used to buy insurances online and this is now extending to illnesses that are long term or critical. For obvious reasons there will be certain things that require physical evidence so these plans are not always smooth sailing to organize. This is because many insurance providers who offer this type of coverage wish to have the applicant take a medical examination by an independent physician to ensure there is nothing untoward right from the start. As a claimant you will also want to know that any claim on your critical illness insurance you make will be accepted and dealt with sensitively.

Of course smokers will pay more for their cover, even if they have given up within the previous year as they are still believed to be in a high risk group. Smoking is a potential threat to your life therefore, premiums will increase although having said this, the insurance company will also consider your age, type of work you do, general health, and pastimes before it issues the cover.

However, the purpose of applying for critical illness insurance protection is to make sure that even if a terminal illness is diagnosed, surgery is required or even a period of unemployment, that benefits will be forthcoming to cover living expenses. For people that have families, there shouldn’t even be a discussion about whether this type of plan should be arranged, should there?

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