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Life Assurance, Critical Illness and Permanent Health Insurance should all be considered by people who have a spouse or children or anyone who works so that they have financial security if they died or could not work. Below we explain what is available and most relevant to you. Related Article Tags: , ,
Life, critical illness insurance and income protection policies are out there in abundance but hardly anyone is buying them according to Swiss Re – their estimated funding shortfall is an astounding 2.3 trillion. Although everyone wants only the best for their families thousands of them risk financial ruin because they have not taken steps to protect them if anything happens to the main breadwinner. Related Article Tags: , ,
Ask yourself this question ‘Could you afford to pay your monthly financial commitments if illness prevented you from working?’ The vast majority of us would say ‘No’. So surely we need to consider insuring ourselves against the worst happening. A typical critical illness policy would pay out a tax free lump sum if the policyholder is diagnosed with a potentially terminal illness. The lump sum can be spent in a number of ways. For example, you could pay off your mortgage, make alterations to your home to accommodate a wheelchair, or simply settle your bills. Related Article Tags: , , ,
If you manage a small business you'll dread the possibility of a member of your team being be taken seriously ill or dieing. Apart from the personal upset, your business would be hit hard. Sales or production could take a dive, key skills could be lost and the general pace of the business could fall. All this costs the business money. Related Article Tags: , , ,
Term insurance is a level term life insurance product that pays out a lump sum when the insurance policyholder dies or becomes terminally ill. It provides peace of mind to the insurance policyholder that loved ones left behind after their death will be financially secure. Term life insurance can be configured to pay off all existing loans - including the mortgage - and leave a cash sum in the bank to support your spouse and children.
The Evans were an ordinary family. Mary was the homemaker, Peter had a steady job driving for Stagecoach. They’d been married for 12 years and had a daughter aged 11 and a son aged 7 and a lived in a semi in Didsbury in the outskirts of Manchester. They were planning to go on holiday to Benidorm on the Costa Blanca next year. Related Article Tags: , , , , ,
Few of us are insured against serious illness even though it may strike at anytime. Unum Provident, the income protection provider, has carried out research that reveals only 4.2 per cent of the country’s work force have critical illness cover, even though they will receive a lump sum if they have a heart attack, stroke or suffer from cancer. Related Article Tags: , , ,
The mortgage term life insurance pays the beneficiary with amount covered in case the borrower suffers from critical illness, incapacitating accident, or depressing death. The borrower brings home the income to repay the mortgage. With loss of income from critical illness, incapacitating accident, or depressing death of the borrower, the family needs to fend off to repay the mortgage themselves.
Back in 1999, the Imperial Cancer Research Fund stated that one in every three people in Britain will be diagnosed with cancer at some point in their life. With rapid medical advances the chances of survival from a major illness are improving but the consequences of suffering such an illness continue to be substantial and life-changing. Related Article Tags: , ,
Much has been written about critical illness (CI) products over the past couple of years. This has highlighted both negatives and positives about the complicated type of insurance cover. Research has shown there is a lack of trust in some of claim processes and procedures that are creeping in. Even more concerning is the concern that insurers aim not to pay these costly claims if it is at all possible.
Buying life insurance online is easy but this article provides 5 money saving tips that the man in the street would otherwise be unaware of. Essential reading. Related Article Tags: , , , , , , ,
According to an EU study, whilst we in Britain can expect to live longer than ever, it doesn't follow that our general health has improved. Read on for some worrying facts. Related Article Tags: , , , ,
When it comes to selecting life insurance policies the Internet is the place to look for the best offers. Life insurance companies have flocked to the Internet in recent times, supplying online life insurance hunters with an extensive choice of life policies. Related Article Tags: , , ,
Recent stories in the press have again lambasted the insurers over critical illness insurance. The core problem is that a critical illness claim is not as straightforward as, for example, a claim under life insurance. With life insurance it's going to be hard for the insurance company to argue that you're not dead! Related Article Tags: , , ,
Ladies, if your mother or any other female blood-line relatives have a history of breast or ovarian cancer then from next year onwards, you could face higher insurance premiums. You could even be refused cover altogether.
Despite new guidelines on sickness policy cover, there is a huge variation in the types of critical illness cover offered by different providers. Consumers need to look at the small print, for exclusions in particular. The industry needs to do more to promote alternative products such as family income and income protection policies. Related Article Tags: , , , , , ,
Alzheimer’s is now listed as one of the most common critical illnesses. The number of dementia sufferers in Britain is forecast to rise to over one million by 2025. Care can be costly but it is important to ensure that you know exactly what is covered and what is exempt in the cover offered by different insurers. Related Article Tags: , , , , ,
Andrew Merricks, head of investments at Brighton-based financial adviser Skerritt Consultants, warns that it is very short-sighted of people not to have Life Assurance and/or Critical Illness Insurance as he insists that life has two main risks - either living too long and dying too soon. "It's absolutely crucial to have some cover in place – particularly if you've got a young family," he says. "These days you need to build your own little welfare state because no one else is going to do it for you." Related Article Tags: , ,
Tips for Shopping Health Insurance and Life Insurance Online
If you've found your way here, you've no doubt decided you need to purchase a new insurance policy or add to your existing level of insurance. It can be a little confusing deciding just what you need. So let's cover some of the most popular types of insurance.
It has been said that life is very unpredictable and there is a lot of truth to that saying. There are people who are very healthy, fall sick suddenly and then discover that they got a critical illness. There are people who are very careful in everything they do, including on the road, but, got knock by other careless driver and ended up lying in hospital for months. These cases happen every now and then and we all know what follow next: the huge medical fee.
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