Why do we need Critical Illness Cover ?
Critical illness cover gives you financial protection during a time that will be very difficult. You become eligible for payment following the diagnosis of the illness. For many the payment received contributes to costs such as medical care and treatment not covered by their regular insurance or state benefit.
It helps with payment for recuperation expenses such as adjust your home to help with a new physical disability. It can be used to cover lost income for the time that you and your family are not able to work due to treatment and caring for the person affected. It can also fund a specific change of lifestyle.
Many people do this if they have been diagnosed with a terminal illness and want to do something that they have never had the opportunity to do before such as take a special holiday.For many people the actual peace of mind that is brought by having this insurance product is immense, even though they may be covered for some illnesses they are extremely unlikely to suffer from.
An example of this is during the CJD scare from contaminated beef, the actual likelihood of contracting CJD was very small but for many the assurance that - should it happen - they were covered, was priceless.
Critical illness cover may come as an added extra requested policy with your health insurance or house insurance and it is worth checking your insurance policies to ensure if you are actually covered already.