Critical illness insurance cover is designed to provide you with a cash sum if you develop a critical illness.
The kinds of illnesses that come under critical illness cover are as follows: -Cancer -Heart attack -Stroke -Paralysis -Blindness -Alzheimer's -Kidney Failure -Multiple sclerosis You will need to check individual insurance companies as to whether there are any other conditions the company covers.
Cover for critical illness is not designed for people with an existing condition and there may be other exclusions in a particular policy that you would have to check for yourself.
As with some other insurance policies, the younger you are when you take out cover for serious health conditions, the lower your insurance premiums will be.
While you may think that you cannot afford any more insurance cover at the moment, you should take some time to think about what might happen if you did develop a serious illness.
Age and illness can bring a lot of problems, and several of the critical conditions that are come under these policies are not necessarily the diseases of old age.
You may be finding things a bit tight at the moment but if you or your partner became ill and unable to work, you would still have to pay your rent or your mortgage.
When you have a mortgage on your home and you can't keep up the payments because you are unable to work because of your illness, then you could lose your home.
Critical illness cover is designed to give you a measure of security with a lump sum that could cover mortgage payments, any extra health care that the state doesn't provide, and even food and household bills.
While there is no suggestion that you should go straight out and get insurance, you should do some research on the subject.
It's a good idea to take a look around the various websites to see the different kinds of insurance for serious conditions.
You may want to get a few quotes just to see what kind of premium payments you would be looking at.
Sometimes things are cheaper than you might have thought.
Even if you don't believe that you need cover for critical illness right now, you may change your mind at some point in the future.
The main benefit of insurance for serious illness will mean that you will at least, be spared from the financial implications associated with being critically ill.