When should I take out critical illness cover?
Summary: Similarly, to life insurance, you can get cover at any time and people often take out critical illness cover at important times in their lives such as purchasing a house, getting married or having children.
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When should I take out critical illness cover?
Similarly, to life insurance, you can get cover at any time and people often take out critical illness cover at important times in their lives such as purchasing a house, getting married or having children.
Critical illness cover can provide financial security, if you were ever to be diagnosed with a condition such as cancer, heart attack or stroke. The cover can be added onto your life insurance policy, meaning that you take both out at the same time.
Child critical illness cover
You also have the option of adding child critical illness cover to your critical illness policy, child critical illness cover is taken out at the same time. Like your own critical illness cover, you can use this lump sum to pay medical bills, care costs, and adapt your home to accommodate a changing lifestyle.
Critical Illness for young adults
It’s never too late to buy critical illness cover. But taking out a policy while your younger means you can get more cover for less.
This is because your cover amount is a percentage of your total life insurance value. Taking out a policy when you’re younger and in relatively good health means your premiums could be lower, which has a knock-on effect on critical illness.
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