What is Life and critical illness insurance?
Life and critical illness insurance is a combination of two of the most important insurance policies for providing total peace of mind for yourself, and your family that should the worst happen to you, they will still be looked after financially.
Life and critical illness insurance provides a customer with life insurance, and critical illness insurance in one easy to manage policy, and it is usually cheaper to buy in a combined policy than it is to purchase the two policies separately.
Life and critical illness insurance covers a customer for the two most common reasons that someone is unable to provide an income, through death or critical illness, and will provide your family with financial support to allow them to pay off the mortgage, or to pay for private medical treatment or for alterations around the home to improve the quality of life of someone who is critically ill.
Why do I need Life and critical illness insurance?
Life and critical illness insurance is important for anyone who asks themselves the question, how would my family survive financially if I stopped earning money tomorrow through death, or through critical illness, and answers that they wouldn’t or that they would struggle. Life and critical illness insurance provides customers with the financial security they need to continue to enjoy their lives knowing that their financial responsibilities will be met, should the worst happen to them.
Life and critical illness insurance is perfect for those who have financial responsibilities like a mortgage or young children, and is usually offered over a term, like the length of your mortgage, when you most need the cover.
Life and critical illness insurance is rarely offered beyond a customer’s 60th birthday as the majority of customers would be unable to afford the cover, because the risk of death or critical illness is so much higher at this point. A customers financial responsibilities will also have diminished by this point, with many customers realising that their mortgages have been paid off, they are nearing the age where they will draw a pension so will not be affected by being unable to work as a result of an illness, and have children who are financially independent having grown up and left home.
