You never know what will happen to you in the future, which is why it is such a wise choice to obtain both life insurance and critical illness cover. In the event that you were to pass away unexpectedly, your family is going to need help handling the monthly expenses, especially if you have a mortgage to think about. A life insurance policy could be the saving grace for your family at a time when they need it the most. On the other hand, there is a great deal of illnesses that anyone has a chance of getting. With the advancements that have been made in medicine, you now have an increased chance of surviving. This is why you will need critical illness coverage. Chances are, if you get diagnosed with a critical illness you will be unable to work and continue supporting your family. Having critical illness cover attached to your life insurance policy will provide your loved ones with the financial security that they need. It will already be a stressful time for your family, so it will only make a bad situation worse if they have to deal with financial pressures on top of everything else.

By thinking ahead and getting both life insurance and critical illness cover, you will be covered both ways. If you get sick and manage to survive it, you will be covered. If you do not manage to survive the illness, you will still have your life insurance policy to help your family cover things like the mortgage and their cost of living. However, it is important to keep in mind that when it comes to your critical illness coverage, you are only going to be able to receive a payout if the illness that you have been diagnosed with was listed in the policy that you purchased.

It is very important to thoroughly read your policy and all of the terms and conditions before you purchase it. You want to make sure that it will cover any illnesses that you feel you are at risk of having to deal with at some point in your life. Additionally, it is very important that you are completely honest and straightforward regarding your medical history when you are applying for coverage. This is because of the fact that when you make a claim, the insurance company will do a thorough investigation of your medical history. If they find that you have left anything out, they will then legally have the right to deny your claim. Even if what they find has nothing to do with your critical illness, they can still refuse to pay you out. This is why it is so important for you to make sure that you have offered up your full and complete medical history at the time when you submit your application.

You would never want to leave your family in a stressful financial situation. By getting both life insurance and critical illness cover, you can rest assured that your family will get the money that they need at a time when security is the most important.

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Category: Finances
Keywords: Life Insurance and Critical Illness Cover