We may all live longer these days but that doesn’t mean we shouldn’t plan for the worse and that is where critical illness insurance helps. This type of insurance coverage is designed to provide your close family with peace of mind if anything were to occur whereby you would no longer be able to work and generate an income.

After many years of medical studies it is plain the chances of a person contracting a critical illness during their life is quite high therefore insurance providers now handle insurance policies like this every day.

These reports make for sorry reading when you think around one in five men will contract one of these conditions before they reach retirement age. For women, this figure is somewhat lower with only one in six being affected by before retirement.

It could be ignorance or just a general hatred of critical illness insurance cover that stops people from starting these plans. The most common application of critical illness cover is when it is added to a mortgage to guarantee that the repayment continue regardless of the health of the borrower.

Nowadays increasing numbers of people decide to use the internet to arrange their insurance policies and more of late cover for critical illness has also become available. In a rush to provide this type of health coverage, many details are not looked into fully and a number of problems have arisen from attempting to do this online. Even if a insurance is applied for on-line there is still the problem of organizing a physical examination as no insurance provider wants to have existing, possibly expensive medical conditions, to pay out for from the start. A common complaint of insurance companies is that they are often insensitive to the plight of their clients and this is not the attitude you want if you are contacting them about your critical illness insurance policy.

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 even though 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.

A major advantage of critical health insurance which is often overlooked is the financial help it provides for individuals diagnosed with a terminal illness. For people that have families, there shouldn’t even be a discussion about whether this type of plan should be arranged, should there?

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Posted Friday, May 1st, 2009 at 6:41 am
Filed Under Category: Affordable Health Insurance
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