Illness cover – is it really necessary?

If you are very wealthy then perhaps illness cover may be something you can afford to ignore but if not, then it might pay to pause for thought before dismissing it.



Here are a few thoughts as to why that may be advisable:

• every day, people that were previously healthy suddenly discover that they are suffering from what may be termed a non-trivial illness;

• some of these illnesses may be described as serious or in some cases, critical;

• if you are so diagnosed, you may have many worries to think about but one that will occur perhaps sooner rather than later is, just how will you cope in a financial sense, if your treatment means that you will be unable to work;

• illness cover seeks to help by making money available to you in these difficult circumstances – that may be used to pay off your mortgage or cover additional medical expenses, or make adaptations around the home, if needed etc;

• illness insurance may typically be described as coming into two main categories – that which provides cover for critical illnesses and that which does likewise for what it may term as serious illnesses;

• critical illness cover quotes contain information on the cover provided (typically a lump-sum payment made in the event you are diagnosed with one of a range of critical conditions);

• critical illness cover quotes may also highlight exclusions from cover and these are typically worth playing close attention to;

• you may also think it is worthwhile looking at serious illness insurance cover quotes as the cover provided is different in a number of respects, mainly in terms of more varied and perhaps less critical conditions being covered and that the policies may pay out more than once (whereas critical cover policies typically will only pay out once);

• if you are either critically or seriously ill, you and your family will wish to concentrate on your health but financial troubles running in parallel to your illness may make that difficult or even impossible – that is a very powerful reason for finding a little time to think further on the subject of illness cover.