Critical Illness And Life Cover Comparison

June 26, 2013


Life Cover Comparison

Life Cover Comparison

When it comes to your health, you cannot afford to take any chances, and nobody can predict the future when it comes to critical illness. Critical illness cover is able to protect you if you are ever diagnosed with a serious illness, such as cancer, heart failure, stroke, or even blindness. When you take out a life insurance policy, you should always ensure that it is the right one for you, because it can be hard to differentiate between programs as they may seem complex when it comes to rates and fees.

Comparing Your Critical Insurance Cover

Your critical illness cover will determine how well you are looked after in the event of a diagnosis, it can determine how much your family gets paid in the event of your death, and it also makes sure that you get the support you need to get through this difficult time.  When you take out a critical insurance policy, you should ensure that you look into the key aspects it provides, such as the amount paid for each illness. A company may offer you $10,000 for organ failure, but they may only offer you $5000 in the event of stroke, this is something you want to avoid. The idea of a critical illness policy is that you can’t foresee the future, so you pay to be looked after financially in the event of this. Don’t gamble with your health by choosing a company that pays more for some than others; choose a company that provides a rate pending on the severity, rather than the illness.

If you are diagnosed with stage 2 cancer, then you will receive a payment.

If you are diagnosed with stage 3 cancer, then you will receive a larger payment.

This way you can feel protected even if your illness is progressing at a faster rate, ensuring that every aspect is covered financially.

Renewal And Repeat Policies

Insurance companies are able to offer you several policies depending on your personal preference and when you look out for a good insurance company, you should ensure that they give you this option.

Premium insurance is when you are guaranteed cover for one year, the rates for this may depend on the person and the circumstance, but you must remember that after one year you are no longer covered. You can renew your rates, however this plan is more expensive as in most cases it covers the wider aspects of illness.

Guaranteed insurance is when you are given a set policy, and you can renew this as many times as you wish until the point of death. The rate is the same, and the policy entitles you to a payback upon diagnosis if you meet the necessary requirements.

Choosing A Good Insurance Company

A good insurance company will be able to provide you with the necessary information to help you make your decision. There are several price comparison websites available that allow you to view the prices of many companies, however you are better off investigating them yourself if you wish to gain a formal opinion. Price isn’t everything when it comes to critical and life insurance, so make sure you compare them properly and assess the plans that they provide you with, if a company offers you a reduced rate, but covers less then you need to consider the future before you side with them. If you are confident that your health is fine, and then you may wish to opt for a cheaper plan, however, as mentioned above nobody knows what the future entails, and choosing the right plan could prove to save your life one day.

Author Bio

Kyle Launders works for an insurance company; he highly recommends about as they are very efficient in their service. He also recommends taking out a life insurance policy, as it is the only way to guarantee your finances should you fall ill.

Critical Illness And Life Cover Comparison


Life Insurance