The term critical health insurance can send many individuals running but surely planning for an eventuality is a wise decision. After all, you are providing for the financial requirements of your family in the future if  something untoward happens where you will no longer be around to assist them in person.

Unfortunately, despite longer lives, we are not generally healthier and insurance providers now routinely offer cover in their policies as there is a reasonably high probability of contracting a serious illness.

The numbers speak for themselves with around one-fifth of men diagnosed with a critical condition before they reach retirement. Females fair a little better with around 15 percent being diagnosed prior to retirement.

Underwriters are of the opinion that because people do not believe it will happen to them or there is general ignorance about the subject that these could be the reans why so few people arrange critical illness insurance for themselves. Those that take out critical illness cover normally do so to help pay their mortgage repayments if they are no longer able, but this type of policy can now be added directly to mortgage repayments.

More and more people now use the internet to source their insurance cover and there has been a growth in the number of individuals who are arranging their health policies online. Unfortunately, being a comparatively new facility, there are new problems that occur as more businesses start offering services over the net for the first time. Not surprisingly, insurance providers often need the applicant to undergo a routine exam to clear up any possible existing complaints right from the outset. The customer wants to know right from the start that he or she will be able to contact the provider of their critical illness insurance insurance without having any problems.

Of course smokers will pay more for their cover, even if they have given up within the previous year as they are still believed to be in a high risk group. Insurance companies place smoking at the top of their list but other areas of your life can impact how much you pay for your premium like your age, physical health, activities you may enter in and the type of work you do.

Terminal ill patients will also appreciate their critical illness insurance when they realise it pays for any medical expenses in addition to those needed for day to day living. For people that have families, there shouldn’t even be a discussion about whether this type of plan should be arranged, should there?

About the author

P Abbey owns and operates employers liability compulsory insurance