Now that you know all about the various types of Life Insurance cover you can get, now is the time to think about other elements of the policy, most notably, critical illness cover.
While Life Insurance pays out in the event of your death and supports your loved ones with funeral costs and outstanding debts, what about if you fall seriously ill?
Illness is a difficult time for the whole family, not just because of the emotional impact and worry of someone being ill, but the additional worry about money. This is where critical illness cover comes in.
If your policy covers you for critical illness and you are diagnosed with an illness like cancer, heart attack, stroke or brain tumour, that would severely impact your ability to work, a lump sum would be paid out to cover:
- Household bills
- Mortgage repayments
- Loss of income
- Private medical needs
While this won’t make up for the emotional turmoil and stress of such a time, it will remove the worry around paying the bills. No one wants to think about getting seriously ill, we all hope that we are invincible! But there is no way to know what the future holds and knowing your mortgage and bills are covered is something that will give you some peace of mind should the worst happen.