Looks like you have decided to take up a critical illness cover. But please before you get into the task try to comprehend what exactly is critical illness insurance. This is an insurance plan which provides you with protection for a number of illnesses which are mentioned in the plan you opt for. There are a lot of unusual critical illness schemes that are accessible in the market. Every plan covers different illnesses and it is up to you to find out which they do and which they do not cover. Thus before you go in for your selected plan you should conduct a research work and then take up the plan which is suitable and works conveniently for you.
You can find that there are two major kinds of critical illness cover which you can take. The first one will insure your family. Under this type the insurance company will give you a lump sum which would be a replacement for your income in case you lose your monthly pay due to illness. The second kind of assurance covers mortgage or loan which you would find it difficult to repay due to your ill health. Main type of diseases covered is strokes, heart attacks and cancer. These are the sickness which is mostly covered but there are other diseases as well.
Remember that you can combine your critical illness cover with your life assurance so that it is more beneficial for you. If you combine both your assurances then when you make a claim you will be paid without charging any tax. You can take the guidance of a broker who will look for the best plans that would be most suitable for you. The agent can demonstrate comparisons of different deals obtainable from the different suppliers and obtain the one that is best for you in terms of both price and depth.
The cost of the assurance plan is also another very vital factor which you must consider. Try to get a critical illness insurance quote of different companies before you jump to select your plan. Finally I would like to add that the best method to go in for any insurance plan would be to take up a very good research work and then decide for your self. You will be able to get the best plan and for the best suited cost which you can afford. Look into the explanations of critical sickness and life on-line and it will in addition help you to comprehend what cover your policy will provide you with. This would provide you with peace of mind and also there would be very few complications when you, if at all required, claim your insurance money.
You can find that there are two major kinds of critical illness cover which you can take. The first one will insure your family. Under this type the insurance company will give you a lump sum which would be a replacement for your income in case you lose your monthly pay due to illness. The second kind of assurance covers mortgage or loan which you would find it difficult to repay due to your ill health. Main type of diseases covered is strokes, heart attacks and cancer. These are the sickness which is mostly covered but there are other diseases as well.
Remember that you can combine your critical illness cover with your life assurance so that it is more beneficial for you. If you combine both your assurances then when you make a claim you will be paid without charging any tax. You can take the guidance of a broker who will look for the best plans that would be most suitable for you. The agent can demonstrate comparisons of different deals obtainable from the different suppliers and obtain the one that is best for you in terms of both price and depth.
The cost of the assurance plan is also another very vital factor which you must consider. Try to get a critical illness insurance quote of different companies before you jump to select your plan. Finally I would like to add that the best method to go in for any insurance plan would be to take up a very good research work and then decide for your self. You will be able to get the best plan and for the best suited cost which you can afford. Look into the explanations of critical sickness and life on-line and it will in addition help you to comprehend what cover your policy will provide you with. This would provide you with peace of mind and also there would be very few complications when you, if at all required, claim your insurance money.
SHARE
