Critical Illness Insurance Cover for Peace Of Mind
Author: Mike Armstrong
Published: 2010-08-20 : (Rev. 2011-04-26)
Synopsis and Key Points:
Critical illness insurance offers protection to a person diagnosed with a life threatening disease.
Main DigestCritical illness cover offers protection to a person diagnosed with a life threatening disease when he or she is going through immense emotional stress and monetary difficulties.
Critical illness cover is offered to people who have been diagnosed with a critical illness including cancer, heart attack among others, which have been defined in the policy document. The policy offers to pay either a lump sum amount (tax free) or a regular income to the insured who has been unable to work or earn a salary due to critical illness. In the United Kingdom, depending upon the premiums that are paid by the insured, the policy would pay out a lump sum amount of cash. Elsewhere, the insurance policy would pay a monthly amount as in salary for a specific period of time.
Critical illness cover is a type of income protection wherein the lump sum amount paid by the insurance company can be used for any purpose the insured person wants. The amount can be used to pay medical bills, utility bills, mortgages, treatment expenses, home renovation expenses or any kind of expenses that can help ease off the pressure off the insured. Critical illness insurance is however slightly different from income protection insurance which only covers the repayment of debts including loans, mortgages or credit cards over a specific period of time. Also, the income protection cover offers to pay the insured monthly payments up to usually 12 months, while the critical illness insurance generally payout a lump sum amount.
Critical illness cover is offered by many insurance companies each having their own list of illnesses or conditions covered. Generally, most of the companies have cancer, heart attack, transplant surgeries, stroke, deafness, kidney failure, multiple sclerosis to name a few, which are covered within their policies. However, it is better to check with individual company about their covered conditions and other terms and conditions.
There is no doubt that critical illness insurance provides a number of benefits when a person needs surgery, post surgical treatment or aftercare. Apart from providing insurance cover for all such big expenses the critical insurance policy also protects the family of the deceased by providing financial support.
There are a large number of companies offering critical illness cover to customers. To stay in the competition, all of them offer competitive and affordable premium rates that are suitable to every budget. The best way for a policy seeker would be to search around a wide array of insurers and find the perfect policy that best suits the individual requirements.
About Criticalillness.co.uk - The website criticalillness.co.uk is your one stop shop solution to get the most comprehensive information on critical illness cover. The website offers complete information on various issues related to critical illness insurance including the basics of critical illness insurance policy; how to get cheap critical illness; tips on buying critical illness; what is joint critical illness; what about over 50s and over 60s critical illness; mortgage protection, and several others. You can even apply for online quote for critical illness and life insurance cover, life insurance cover, income protection and mortgage payment protection. If you have any queries regarding any of the insurance policies, you can even post a question on the website.
- 1 - Action Needed to Address Social Security Disability Insurance Finances : The National Academy of Social Insurance (2013/05/24)
- 2 - Disability Insurance Services Campaign: What Will You Say : Disability Insurance Services Inc. (2011/04/25)
- 3 - Critical Illness Insurance : Frank N. Darras (2009/10/28)
- 4 - Benefits of Travel Insurance : Greath Owen (2008/12/29)
- 5 - How to File a SSDI Claim : Allsup (2010/01/08)
- 6 - United States Senate Finance Committee to Investigate Long-Term Disability Insurance Claims : Disability Attorneys Dell & Schaefer (2010/09/24)
- 7 - Health Insurance Options for the Self Employed : Disabled World (2009/02/05)
• Disabled World is strictly a news and information website provided for general informational purpose only and does not constitute medical advice. Materials presented are in no way meant to be a substitute for professional medical care by a qualified practitioner, nor should they be construed as such. Any 3rd party offering or advertising on disabled-world.com does not constitute endorsement by Disabled World.
• Please report outdated or inaccurate information to us.