In the past, most people had cover only if they died. But now more and more people are becoming aware of the advantages of Critical Illness cover. Rather than paying out only on death, this cover actually pays out to those who survive.
This can prove to be of tremendous benefit to so many people.
Imagine, for instance, if you are self-employed. How long would you be able to stay off sick? Far too many people in this situation rush back to work too quickly through financial necessity. And what happens? Very often they finish off more seriously ill than when they were before.
A lump sum could alleviate so many worries, such as paying off all loans and mortgages. This would allow them to return to work when you are ready, not when the demands of the loan companies pressure you into returning.
And if you are single? You may not require life cover, but if seriously ill, who will take care of you? Critical illness benefit could provide a tax-free lump sum to pay for the specialist nursing care you may require and give you full financial independence.
Do you really want to rely on family members facing such a burden when, for a relatively small outlay, you could have substantial critical illness benefit?
If you consult an independent financial adviser, they can guide you through the maze of products to the most appropriate one with the most comprehensive coverage.
For more information, please see our Critical Illness FAQ and Critical Illness In-Depth Guide.
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