Life Insurance Vs Critical Illness Cover
Everyday there are people within Northern Ireland diagnosed with a critical illness. We always think “this will never happen to me or my family” but, the reality is, it might! In such dreadful circumstances it is better to have something in place to help you or your loved ones cope financially if you became critically ill.
Critical illness cover is an insurance policy which in exchange for regular premiums, offers a lump sum of money if any of the lives covered are diagnosed with a critical illness stated within your policy. Most critical illness policies will not allow you to ‘opt in’ at any stage, which is why it’s important to be prepared for the worst.
There is nothing abnormal with having a positive outlook on life and thinking ‘I’ll cope’, but a critical illness cover will help give you and your family some financial security at a difficult time.
Life Insurance Vs Critical Illness Cover
Whilst some insurance companies only offer critical illness cover as part of life insurance policies, others offer separate critical illness policies. This gives you the flexibility to separate the two.
Why buy separate critical illness cover?
• Critical illness cover can run alongside any life insurance policy you may already have in place.
• Some employee benefit packages include life insurance cover, however, others choose to have a critical illness policy for peace of mind.
What is the right policy for you?
At Financial Foresight we can help you make informed decisions on which is the right policy for you and your circumstances. We compare a range of policies to determine how life insurance and critical illness cover may give you and your family financial security.
What are the right options for you?
• Accelerated or additional critical illness over?
• Children’s critical illness cover?
• Buyback feature after or Claim/payout?
Contact us and book a free consultation today.
