Tuesday, September 1st, 2009 at 7:48 am
The Truth about Critical Illness Insurance
According to the Department for Work & Pensions, 58% of the causes of long term disability are not covered by critical illness. This figure shows that the cover is limited, and I bet very few people with a critical illness policy know this.
This doesn’t mean that you should ignore insurance which could be used to protect you if you develop a critical illness, or long term disability, it just means that you need to be considering what type of insurance is exactly right for you, and which are most likely to pay out if you need to make a claim.
What is Critical Illness Cover?
Critical Illness Cover is an insurance policy which will pay out if the person covered is diagnosed with a specified critical illness and does not die within a set term. A lot of Critical Illness policies have the option to include life insurance, in case the person dies during the waiting period.
Tuesday, September 1st, 2009 at 4:07 am
When your children fly the nest it can leave you saddened or exhilarated. Your life, as you know it, will change considerably. Whilst understandably this period brings mixed emotions, it may also bring new benefits.
The change in situation will probably alter your personal insurance needs, such as home insurance. Here are some examples of how your needs may change:
Discounts – If your kids are away at university you may be eligible for a student discount on your home insurance. On the other hand, you may be entitled to some senior discounts, and it is always worth checking what is available in your circumstances.
Re-assess the price of your possessions – Antiques, heirlooms or art may have amplified in value since you purchased them, and so it may be appropriate to get them re-valued. Possessions you have worked hard for deserve to have the right level of protection.
Eligibility for a discount – If your children are students you may be eligible for a student discount on your home insurance. Alternatively, you may be entitled to some senior discounts, and it is always worth checking what is available in your situation.
