Being unable to work due to illness can be frustrating, but if it can also have financial repercussions. Critical illness insurance can provide peace of mind that you’re financially protected should you unexpectedly fall ill – here’s how to get the best c
If you’re worried how you’d pay the bills if you were unable to work for long periods due to illness then critical illness insurance could give you reassurance that you’d be financially protected.
Who should get critical illness insurance?
Before you compare critical illness cover policies you need to ask yourself – do I need critical illness cover?
Unlike other types of insurance at no point will you have to take our critical illness cover; that is not to say that it can’t provide you with peace of mind or offer valuable protection.
If you are worried that if you were unable to work due to illness that you would struggle to pay your bills then taking out a critical illness policy could be good choice.
Essentially it is this peace of mind that you are paying for and you need to ask yourself before committing to a policy - is critical illness cover worth it?
How much cover do you need?
Unlike income protection cover, critical illness insurance won’t offer you a replacement income should you be unable to work, instead it will pay out a specified lump sum if you are diagnosed with a covered medical condition.
Most policies offer cover into the millions of pounds, so deciding exactly how much you need before you compare critical illness cover quotes makes sense.
Consider what you would need to pay for if you couldn’t work again, including any debts such as your mortgage or loans and money you would need for day to day expenditure to come up with a figure.
Will it give you the cover you want?
Many cheap critical illness cover policies will limit the illnesses that they will pay out for as well as excluding all existing conditions.
Some policies will also only pay out if you can’t work in any capacity, not if you are no longer able to pursue your chosen career due to illness.
Due to these variations from policy to policy it makes sense to decide exactly the level of cover you want and then compare critical illness quotes that fulfil your specified requirements.
Remember, while you might want to have cover in place for every medical eventuality this will also drive up the cost of your insurance premiums.
For more help choosing a critical illness policy that gives you suitable cover, read our article 5 Things You Need to Know Before You Buy Critical Illness Cover.
Compare quotes
Once you’ve narrowed your options to policies that give you the cover you want on terms you are happy with you will need to look for the cheapest critical illness cover quote.
You can use our critical illness comparison table to compare critical illness cover policies side by side and choose the best critical illness insurance for your circumstances.
