Why critical illness insurance is so important?

Life is full of unexpected moments. Critical illness insurance is a long-term insurance policy which covers serious illnesses listed within a policy. If you get one of these illnesses, a critical illness policy will pay out a tax-free, one-off payment. This can help pay for your mortgage, rent, debts, or alterations to your home.

A critical illness policy can take a lot of financial worrying off your mind while you recover. It can help you manage your financial burdens when unexpected challenges happen in an instant and focus on what is important.

Sometimes, even the biggest emergency fund isn’t enough for an individual or their family to survive financially. Serious illness, injuries or even tragically death can disrupt everything you know. At times, your emergency contingency fund may not be able to handle it all.

If you do have a life insurance policy that includes critical illness cover, we urge you to check your policy schedule and the documents provided. Reviewing these documents will tell you which types of critical illnesses are covered.

Most people don’t know such details as they haven’t been explained from the start when their policies had been taken out. Having good insurance cover to give you peace of mind is very important. Unfortunately, some people have inadequate critical illness cover, and they don’t even know about it.

As your financial advisers, part of what we offer our clients is a rounded, tailored protection plan designed to help you preserve your hard-earned wealth through some of the most difficult times. Get in touch with us and learn more about our critical illness insurance options.