Critical Illness insurance is a something that I am particularly passionate about. I have learned firsthand the benefit the cover can bring an it is more than money.
For those of you who don't already know in 2011 my wife was taken ill with what later diagnosed as Multiple Sclerosis, it was just 14 months after our twin boys had been delivered stillborn which had a negative financial effect on us as a couple as my wife had taken a significant period of time off work and I had taken a backward step with my work just looking after my existing clients for a while and not taking on any new business. Just knowing that we had insurance in the background made a big difference to us, in the short term. I was able to attend all her appointments with her and generally be away from work without worry.
In the long term the critical illness payout allowed us to realign our finances so that when my wife returned to work she could do so part time, which will make a difference to her long term health and happiness.
If you have no critical illness cover at all I would really urge you to get in touch for a chat to establish if you should have.
I know lots of people buy this sort of cover through comparison sites but I would urge you to consider coming to an adviser (such as me) for advice for a couple of reasons;
- There is a good chance it'll be cheaper as recently revealed in a Telegraph Article.
- Not all insurance is the same often the difference between the cheapest providers can be just a £1 or so per month but the cover offered may not be the same as different insurers may cover different illness' or pay out at different severities. An experienced adviser can not only help you get the cheapest policy they can help you get the best value for your money too.