Buying the right critical illness policy can be tricky and unlike life insurance, where cheapest is often the best, critical illness cover requires a little more research to ensure that you get the policy that is right for you and your family. While the price of a policy should be a key factor, it is important to consider all of the options available before making your decision and so we have created a critical illness checklist that highlights eight things you should check before buying critical illness insurance.
Checklist for choosing the right Critical Illness Insurance
|Level of Cover (£)||
|Term of Cover (years)||
|Joint or Individual||
|Critical Illness with Life Insurance||
Cost inevitably makes up a large part of anyone's decision-making process. It needs to be affordable and so there is no point in putting an insurance policy in place that you'll inevitably cancel because you can't afford it. Critical illness insurance comes with added features that will appeal to some people more than others and so paying extra will make financial sense to some. A little like when you buy a car; the heated seats might be worth the extra cost for some, but others will find this an unnecessary expense that doesn't add any value for them and so it is often down to personal preference.
What is the best way to buy Critical Illness Insurance?
Looking online and comparing quotations across various comparison sites will give you some idea of costs. However, selecting the right insurance company, product and parameters of the policy can be difficult. I would suggest having a chat with a specialist personal insurance adviser. You'll be able to use what you've understood through reading this article to stipulate what you want and the adviser will steer you towards the best choices for your budget. Your health, occupation and hobbies will all play a part in the price of the policy and an adviser will recommend the insurance company that is the best fit for you.
We have vetted the services of LifeSearch* an independent critical illness specialist that provides advice for free. An adviser at LifeSearch will take the time to understand what you need and has access to the whole market so they can select the best price and policy for you. They will help you tailor your policy to suit your circumstances and your budget. There will be many considerations that will be personal to you and it's helpful to take the time to discuss these with someone who is trained to provide impartial advice. As a Money to the Masses reader, you'll receive £50 cashback when you arrange a policy too.
If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses and do not wish to qualify for the cashback referred to in the article - LifeSearch
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