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Don't Think you need Critical Illness Insurance...Think again

Apr 19, 2008
Planning for the unexpected regarding your health is a wise decision. Although you may never need critical health insurance, it is preferable to have it and not use it than the opposite! This type of coverage is designed to provide your family with peace of mind if anything were to happen whereby you would no longer be able to work and generate an income.

Studies have shown there is a strong possibility that at some stage in your life you will suffer from a critical illness so most of the insurance providers now cater for these conditions.

Twenty percent of men and Fifteen percent of women will be diagnosed with a critical illness before they reach the age where they can retire. With these odds it makes sense to consider a critical illness insurance policy.

While lack of information may be to blame for the low numbers of people that arrange critical illness insurance protection, it is more than likely our belief that it will not happen to us. The main purpose of critical illness coverage is to protect mortgage payments. Consequentely, insurance companies will normally offer it as part of a mortgage agreement.

Over the last few years the amount of insurance policies arranged online has increased dramatically. For many plans coverage for critical illness has now been added. However, this is an area which is still developing and even now, problems occur owing to the nature of the policy type trying to be arranged. Understandably, insurance providers want to see physical proof that the applicant does not have any outstanding conditions before they arrange the coverage. A person who is forced to speak to someone about claiming on their critical illness insurance plan, wants to know they will show some empathy when they call.

Smokers are unfortunately treated as higher risk applicants; this includes anyone who has smoked within the previous year, and as a consequence they are placed in a high risk category. 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.

The benefits of critical illness insurance should not be underestimated as you may require surgery for a serious, life threatening condition; cannot work owing to it or are diagnosed with a terminal illness. If you have family responsibilities then there can be no debate about the benefits of having an insurance plan set up and in place should the worst happen.
About the Author
In addition to being properly insured, Mark Hall suggest creating additional money streams. For more instruction take a look at his Toksee or Toksee Widget site.
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