All About Critical Illness Insurance

Update Sept. 12 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-09-12T06:19:00.000-07:00

When young and energetic, most people do not think about critical illness insurance. Emergencies can often take the form of critical diseases. It is very important to take advance precautions and safeguard yourself with critical illness insurance cover. Only a small amount every month can save you bank balance later in life. A small but regular amount is not a load on your pocket. It is like skipping that extra coffee or that cherry cake to save a few pennies per month.

What Is It All About?

Critical illness insurance was introduced in South Africa in the year 1983. It was also sold as cancer policy in the US, wherein it covered some specific types of cancer. Gradually, it gained popularity and now it is being sold across the world. In this type of insurance, if a critical illness is detected, the insurance bearer receives a lump sum amount which is tax free. The critical diseases and conditions are already mentioned in the insurance document. Usually, problems like cancer, kidney failure, specific heart problems and specific strokes are considered critical. The insurance company will take into account various factors like age, general health, profession, medical history among others before approving your insurance. Higher premiums are usually charged for smokers.

Secure The Future

Critical illness cover is also called Trauma Cover, Crisis Cover and Living Insurance. This insurance is an important tool against long term problems. It is financial security and proof against future medical emergencies. The rising medical costs can even make people bankrupt. To take this insurance is vital. In countries where social security measures are inefficient, critical insurance becomes a must. Also, you can have access to the best medical care without draining your pockets. The amount provided by the critical illness cover can be used for other urgencies as well like personal bills, mortgage amount among other financial liabilities that have arisen because of illness. Critical illness insurance offers three major advantages.

* You can have your premium locked for ten to twenty years just like a life insurance policy.
* The policy can be reaped even if the bearer passes away during the medical care. Some companies have a few restrictions in this clause.
* You can take this policy even if you are poor. This insurance can be purchased by anyone.

According to research reports, more than 50% bankruptcies happen because of medical problems. It is better to take this cover rather than taking bank loans or payday loans at high interest rates.

Get The Best Insurance

You can also get this insurance online. The process is hassle free and safe. There are many good companies that sell this insurance. Before going for this cover, you should make sure that you read the terms and conditions carefully. There may be certain hidden clauses and conditions unsuitable for you. It is also important to check for the company's reputation and past records. A critical insurance is not the same as life insurance. There are many companies that are reputable in the field of critical insurance; you should trust only a good one. Critical illness insurance is the best way to get out of medical bill mess.

The best way to avoid medical bankruptcy is to take critical illness insurance. You can buy this online that too safely and easily. There are many good companies that sell critical illness cover.

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Update August 25 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-08-23T09:43:00.000-07:00

Critical illness insurance is a type of insurance which will pay a lump tax free benefit to the insured if he is diagnosis of one of the critical illnesses covered by the policy. The benefit is intended to help insured persons maintain their quality of life and financial independence after suffering a life-threatening illness. Be sure to understand that critical illness insurance is not 1. based on the inability to work or the death of the insured. 2. needed to be a specific expense that is incurred to qualify for the benefit. It is designed to pay a lump sum benefit when a person is diagnosed with a covered condition and subject to a waiting period. This type of insurance creates a great deal of financial flexibility for insured who suffers a major illness.

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Critical Illness Insurance - Better Now Than Sorry
By Ing Taraonar

The frequency with which people in Toronto are diagnosed with a critical illness condition is increasing steadily all the time. As a consequence, people have become aware about the importance of having health insurance supported by critical illness policy. Because of the insufficient government health plans which are not able to provide an expected degree of treatment in the event of the illness occurrence, this matter demands a special consideration. And yet, a lot of people living in Toronto are satisfied with their medical insurance. And it is what they rely on in case their health is under risk of a high degree. The question that we have to ask ourselves is whether a medical policy we own covers everything that might affect our health condition. As in the worst case the major expensive medical treatment will appear to be our issue to take care of. That is to say, in case you are not properly insured you might experience extreme financial strain merely because of the expenses your insurance does not cover. Under these conditions critical illness insurance is proved to be a valuable addition to your health insurance.
What is critical illness insurance?
It is a medical insurance which guaranties a compensation paid to the policyholder in a form of a lump-sum benefit upon diagnosis of a critical illness predetermined by the insurance policy. In other words, you will be getting money under the conditions of an urgent need to cover your medical bills and recovery-related expenditures. The list of illnesses which most commonly regarded as critical by insurance companies includes: Cancer, Heart attack, Stroke, Major organ transplant, Heart bypass surgery, Kidney failure, Coma, Blindness, Deafness, Loss of speech, Paralysis, Multiple Sclerosis, ALS - aka Lou Gehrig's Disease, Occupational HIV, Alzheimer's disease, Parkinson's disease.
As a matter of fact, critical illness insurance features its flexibility in unrestricted by purpose of payments. You can use the money as you please, for instance, you can pay off your mortgage or medical bills, hire help for around the house, or spend money for recovery treatment etc.
Be aware of the fact that, if you are diagnosed with such illness you will have to live through so called "survival period" a minimum number of days from when the illness was first diagnosed. Usually, survival period lasts 28-30 days depending on the insurance company.
As far as payment is concerned, it is mostly depends on your age, health condition, the amount of coverage you want. Apparently, you need to put every effort to obtain affordable critical illness insurance quotes in Toronto in order to get a complete range of medical treatment should the illness occur.
Insurance Brokers Toronto

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Update August 08 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-08-07T08:27:00.000-07:00

Cancer and stroke insurance supplements pay a predetermined benefit amount upon diagnoses of a critical illness such as heart attack, stroke, invasive cancer, kidney failure, organ transplant, and coronary artery bypass. This supplement is also referred to as a Critical Illness Insurance Plan. These supplements are commonly purchased to cover out of pocket exposure and deductibles with a current HDHP (high deductible health plan). Deductible is the out of pocket expense a person has before the insurance policy pays. Many major medical insurance policies in the United States have large deductibles that don't cover the initial emergency room visit. Increasing your medical insurance deductible each year is a good strategy to keep monthly premiums affordable. It seems medical insurance companies do rate increases every 12 months even if you don't use it?

A family with a $5,000 deductible health insurance plan could end up paying that $5,000 out of pocket deductible if someone gets injured or is rushed to the ER from a heart attack (or other life threatening sickness). Personal accident insurance plans and a cancer heart health insurance policy do a good job covering this emergency room coverage gap with or without other forms of health insurance in place. These indemnity style plans are opposite to a high deductible health plan because supplements pay out immediately and have little or no deductible. Indemnity insurance basically compensates a person for a financial loss (hospital or doctor bill) up to a predetermined sum amount. So consider this style of plan a compensation insurance. A lot of people seek out indemnity plans or compensations style insurance because policies are more predictable and less elusive on how much they will actually pay. It seems with some major medical insurance companies, you just submit the claim and keep your fingers crossed they'll pay and not try to weasel out of the bill. In my opinion, indemnity supplements have less ways of backing out of paying then a traditional PPO and are more reliable with claim handling.

Critical Illness insurance plans can have different benefit amounts. A common benefit amount for cancer and stroke insurance plans is $10,000 US dollars. Not only does the benefit amount (policy face value) differ on critical illness plans, but so does the underwriting. Some plans have minimal underwriting and some are guarantee issue with zero health questions. If you've already had a cancer diagnoses, or suffered a heart attack, look for supplemental cancer insurance plans that are guarantee issue. These guarantee issue plans won't pay for any preexisting conditions for the firs year, but after 12 months of paying for the policy future benefits can be paid.

Here's the monthly rates from the leading plans with this $10,000 benefit:

Individual and Spouse Plan Monthly cost: $48.00 US Dollars

Individual Plan Monthly cost: $25.00 US Dollars

These types of cancer heart health insurance policy cover medical expenses related to: Heart attacks, Stroke, Invasive cancer, Kidney (renal) failure, Major organ transplants, and Coronary artery bypass grafts.

The $10,000 lump sum cash payment can be used for treatment however the member chooses. If someone already has a HDHP (high deductible health plan), the $10,000 cash benefit would most likely be used to pay off the primary health insurance deductible. A huge percentage of health insurance deductibles (deductible= dollar amount you pay before insurance plan pays) are met from the initial emergency room visit. People rarely eat up a $5,000 dollar health insurance deductible from a routine doctor visit for a Cold or Flu. However, health insurance deductibles are being maxed out from emergency room visits resulting from a bodily injury or life threatening sickness like heart attacks or stroke. Not to mention that when hospitals and doctors figure out you have good health insurance they'll be happy to max out that deductible for you. So we can see that emergency room coverage is not only the most practical for the real world, but even people with a major medical catastrophic plan can end up with a huge ER bill despite having insurance.

The good news is that accident insurance plans and some cancer and stroke insurance supplements are guarantee acceptance and the monthly cost is reasonable. As the cost for medical insurance in the United States increases, so should our understanding of insuring areas that are important and practical. Emergency room coverage is a clever use of monthly health insurance dollars spent and everyone can qualify. ER supplements can be used as a "stand alone" personal plan, or to cover a high deductible health insurance plan.

Adam Santi has been a licensed medical insurance broker since 2004. For more information and to apply online to the industries leading personal accident plan and cancer and stroke insurance supplement check out my website.

Cancer and Stroke Insurance

http://www.accidenthealthinsuranceplan.com/

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Update July 22 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-07-21T11:02:00.000-07:00

Critical illness insurance is a type of insurance which will pay a lump tax free benefit to the insured if he is diagnosis of one of the critical illnesses covered by the policy. The benefit is intended to help insured persons maintain their quality of life and financial independence after suffering a life-threatening illness. Be sure to understand that critical illness insurance is not 1. based on the inability to work or the death of the insured. 2. needed to be a specific expense that is incurred to qualify for the benefit. It is designed to pay a lump sum benefit when a person is diagnosed with a covered condition and subject to a waiting period. This type of insurance creates a great deal of financial flexibility for insured who suffers a major illness.

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Is Critical Illness Insurance Really Necessary?
By Gene Ramsay

Of all the insurance products I have ever offered, critical illness insurance never really made sense to me... until I ran into to someone who really could have used it and whose life would be different now had they had it when a tragic event struck their life that they said, "would never happen to me."
This person relayed to me a story of an incident that had happened in their life involving a live changing and unexpected stroke (by the way, did you know that having a heart stroke is the number one most prolific way people enter into disability?). We hear about people having a heart attack or strokes all the time, but if we look deeper into that incident what will we really see? How about a family that is dealing with a loved one as result of a stroke? People have to take time off from work to care for their loved one, schedules need to be rearranged for trips to the doctor, and then we also have to look at the person suffering the effects of knowing that their life will never be the same. It all adds up and sadly...like with many things in this world...money gets involved. Lost time from work means no money and no money means more stress. That's not exactly what the doctor would order for a person and their family dealing with the effects of a stroke or heart condition.
The goal is to get better and come out of that event on the other side. Critical illness insurance can, at the very least, help with that as policies many times pay out $50,000.00 to $100,000.00 upon diagnosis of not only heart conditions, but if the insured needs a major organ transplant or has kidney/renal failure.
I am big believer in a "God will provide" life, but what do we think these small investment offerings are? If you have questions about these types of policies, please contact me.
Gene Ramsay is a health and life insurance professional with many major carriers. He is ready to connect with you and help. Feel free to head over to http://www.generamsay.com to find out more.I try to be a phone call (205-370-8453) or an email (gene@generamsay.com) away.

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Update July 03 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-07-03T08:02:00.000-07:00

By Jesse Slome

Everybody knows someone who has had cancer, a heart attack or a stroke. These are all referred to as critical illnesses. They are no longer fatal - which simply means more people than ever are surviving them.

But survival comes with a steep financial cost. Chances are you have not heard of a new financial product that addresses the financial devastation that can arise when you have a critical (non-fatal) illness.

It is called critical illness insurance and today several leading insurance companies offer it. More will be introducing policies in the year ahead. Roughly 600,000 policies have been sold to date.

When you read the following statistics, you might realize this is a real risk you face and need to prepare for.

Some 1.4 million Americans were diagnosed with cancer cases (2008). American women have a 63% chance of living at least five years after a cancer diagnosis (for men it's 66%).

Every 40 seconds someone in the US has a stroke. 600,000 people will experience their first stroke (this year). 10% of stroke victims recover almost completely; 25% recover with minor impairments; 15 percent die shortly after the stroke.

Every 34 seconds, an American will suffer a heart attack. 785,000 will have a new coronary attack (this year). Where defibrillation is provided within 5 to 7 minutes, the survival rate from sudden cardiac arrest is as high as 30-45%.

1.5 million Americans will declare bankruptcy this year. 60% are due to medical bills (up 50% over 6 years). Some 78% had health insurance but were impacted by deductibles, co-payments and uncovered expenses + living expenses.

The average age of a person having a first heart attack is 64.5 for men and 70.3 for women. For ages 45 - 64 the number of heart attacks is: Men: 265,000 Women: 95,000. For ages 65-74, it's: Men: 180,000 Women: 95,000

Some 448,000 coronary artery bypass procedures were performed on 253,000 patients.

African Americans have almost twice the risk of first-ever stroke compared with whites.

The median survival time (in years) following a first stroke is: at ages 60-69: 6.8 years for men and 7.4 years for women. At ages 70-79: 5.4 for men and 6.4 for women.

There were 1.4 million cancer cases in the U.S. (2008). Men: 745,180 Women: 692,000.

The most common cancers - men: Prostate (25%), lunch & bronchus (15%), colon (10%), urinary (7%) The most common cancers - women: Breast (26%), lunch & bronchus (14%), colon (10%), uterine (6%).

Critical illness insurance is a form of protection that provides the policyholder with a tax-free, lump-sum cash payment upon the diagnosis of a critical illness. Coverage is available in amounts typically from $5,000 to as much as $500,000.

Costs are based on the age of the applicant, sex, current health and use of tobacco products. A number of insurers offer "simplified" issue policies (no health exam) for amounts up to $50,000.

For more information, visit the Consumer Information Center of the American Association for Critical Illness Insurance, the non-profit industry trade group.

The American Association for Critical Illness Insurance is the national trade organization providing consumers with relevant and current information designed to help you make smarter decisions. The Association does not sell insurance products but works with insurance and financial professionals nationwide. Consumers should visit the Association's Consumer Information Center to access free information.

Use the Association's Cost Calculator to see the cost for critical illness insurance at ages 40 to 60. Critical Illness Cost Calculator click link to access free information.

Jesse Slome is Executive Director of the Association.

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Update June 15 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-06-15T07:26:00.000-07:00

By Ing Taraonar

The frequency with which people in Toronto are diagnosed with a critical illness condition is increasing steadily all the time. As a consequence, people have become aware about the importance of having health insurance supported by critical illness policy. Because of the insufficient government health plans which are not able to provide an expected degree of treatment in the event of the illness occurrence, this matter demands a special consideration. And yet, a lot of people living in Toronto are satisfied with their medical insurance. And it is what they rely on in case their health is under risk of a high degree. The question that we have to ask ourselves is whether a medical policy we own covers everything that might affect our health condition. As in the worst case the major expensive medical treatment will appear to be our issue to take care of. That is to say, in case you are not properly insured you might experience extreme financial strain merely because of the expenses your insurance does not cover. Under these conditions critical illness insurance is proved to be a valuable addition to your health insurance.

What is critical illness insurance?

It is a medical insurance which guaranties a compensation paid to the policyholder in a form of a lump-sum benefit upon diagnosis of a critical illness predetermined by the insurance policy. In other words, you will be getting money under the conditions of an urgent need to cover your medical bills and recovery-related expenditures. The list of illnesses which most commonly regarded as critical by insurance companies includes: Cancer, Heart attack, Stroke, Major organ transplant, Heart bypass surgery, Kidney failure, Coma, Blindness, Deafness, Loss of speech, Paralysis, Multiple Sclerosis, ALS - aka Lou Gehrig's Disease, Occupational HIV, Alzheimer's disease, Parkinson's disease.

As a matter of fact, critical illness insurance features its flexibility in unrestricted by purpose of payments. You can use the money as you please, for instance, you can pay off your mortgage or medical bills, hire help for around the house, or spend money for recovery treatment etc.

Be aware of the fact that, if you are diagnosed with such illness you will have to live through so called "survival period" a minimum number of days from when the illness was first diagnosed. Usually, survival period lasts 28-30 days depending on the insurance company.

As far as payment is concerned, it is mostly depends on your age, health condition, the amount of coverage you want. Apparently, you need to put every effort to obtain affordable critical illness insurance quotes in Toronto in order to get a complete range of medical treatment should the illness occur.

Insurance Brokers Toronto

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Update May 25 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-05-25T06:59:00.000-07:00

By George Battles

The insurance industry has really been booming in the last few decades. Buying insurance (such as life insurance) usually goes together with a notable life event such as the purchasing a house, a car, getting married or even having children. Buying a policy that will cover critical illness is usually a move made by someone over 50 who wants to insure that contracting a critical disease won't cause them financial ruin.

When borrowers take out a home mortgage loan, the moneylenders will often try to convince them to buy life and/or disability insurance along with the deal. Accepting the offered insurance, however, might not be such a good idea. Since the offered insurance is only the product from one certain company, the price that has been given by the seller hasn't competed with or been compared to the price of the other products on the market. You can almost always save money by comparison shopping, and that's relatively easy to accomplish online these days.

When it comes to purchasing critical illness coverage, the choice of possible underwriters is varied and numerous. Almost all major insurance companies offer coverage in this specialized area. Many of the policies written have become standardized in some of the terminology and will differ, primarily, in cost and in exactly which illnesses are covered by the contract. Some insurance companies cover as many as 150 different illnesses while others may include less than thirty. Make sure to take this into account when shopping around for the best deal that fits your needs.

Some diseases that were covered by many policies twenty years ago have been removed from present-day contracts because they are no longer considered 'critical' illnesses. New technologies and treatments have been instrumental in turning what would have been fatal just a few decades ago into something survivable today.

Not only will insurance contracts spell out what illnesses are considered 'critical', but also there will be sub-requirements under each covered category. For example, a heart attack will be covered in most any policy, but some will require actual tissue death or a blocked blood supply to the heart to qualify for benefits. Always read the contract carefully, including the fine print.

No one wants to come down with a critical illness, of course, but when it happens it has to be dealt with. Sometimes the event will seem to totally change someone's priorities in life. For others, the news will absolutely devastate them. There will always be large expenses incurred and bills to pay.

Benefits from a policy designed to cover critical illness are paid in a lump sum (usually) and can be used to supplement your health insurance coverage for paying hospital and doctor's bills. But you can also use it to make your mortgage payment or to employ an at-home nurse. You're free to do whatever you want with the cash. For those whose priorities have really changed... maybe you should just take a nice, long vacation. You can do YOUR Bucket List!

George Battles has been articles online for nearly 4 years now. Not only does this author specialize in insurance, but you can also check out his latest website on Croc wallet and oyster knives

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Update May 06 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-05-06T06:23:00.000-07:00

By Randy Palmer

Critical illness insurance in todays world is very necessary. People who are surviving from major health concerns, in that same process need funds for recovery. With that, lets discuss how a Michigan critical illness policy works.

The critical illness policy that we offer gives a Michigan consumer protection in regards to heart attacks, life threatening cancer, kidney failure, strokes, and organ transfers.

* I am sure we all know someone who has had a heart attack. According to Americanheart.org, 425 thousand people have died from a heart attack since since 2006. However, what is more important is people are surviving after heart attacks. From "1996 to 2006 the death rate from coronary heart disease declined 34 percent." With this stat, people should understand the need for critical illness protection.

* Cancer.org recently brought out their stats from 2009. Cancer has been the number two killer since 06, only behind heart attacks. What is most important? "Compared to the peak rate of 215.1 per 100,000 in 1991, the cancer death rate decreased 16% to 180.7 in 2006. Rates for other major chronic diseases decreased substantially during this period."

By reading this posting, you should understand my point. Consumers are surviving from heart attacks, cancer, strokes, kidney failures, and even organs transfers. So how does a critical illness policy work?

The consumer picks and benefit ($10,000 - $100,000) and if he/she suffers one of the five illnesses that I have named, then the benefit is paid out. You also receive 25% of your benefit if you need angioplasty or artery bypass. It is that simple in a nutshell. That payment can be used to pay off your health insurance deductible, traveling bills, etc.

When it comes to pricing, it is beyond affordable.

Age 35 male, $10,000 benefit, non tobacco $15.42 $25,000 benefit, $31.88

Age 35 female, $10,000 benefit, non tobacco $11.59 $25,000 benefit, $22.23

Age 50 male, $10,000 benefit, non tobacco $34.32 $25,000 benefit, $79.04

Age 50 female, $10,000 benefit, non tobacco $24.02 $25,000 benefit, $53.30

The one question I get with regards to our critical illness is what happens if I die without using the policy? I pay and what do I get? With our policy, if you pass without using your policy, your beneficiary will receive all the premium you have put in. Your money does not go to waste.

Another perk with this policy, is if we combine it (husband + wife), the premiums actually become cheaper.

This policy is underwritten, so be prepared to answer health related questions.

When you sit back and actually think about who you know, it has to be concerning if you know of someone who has suffered one of the illnesses mentioned. They probably had to pay their health insurance deductible, medications, and possibly even bills if they were out of work for a substantial amount of time. With critical illness protection, all those worries could be taken away. You do not need those headaches mentioned above if you are recovering from a serious illness.

Randy Palmer is the owner of a health and life insurance agency in Michigan. His website http://www.michiganhealthbroker.com brings consumers quality health, life, and Michigan critical illness insurance quotes.

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Update April 07 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-04-07T07:31:00.000-07:00

By Gene Ramsay

Of all the insurance products I have ever offered, critical illness insurance never really made sense to me... until I ran into to someone who really could have used it and whose life would be different now had they had it when a tragic event struck their life that they said, "would never happen to me."

This person relayed to me a story of an incident that had happened in their life involving a live changing and unexpected stroke (by the way, did you know that having a heart stroke is the number one most prolific way people enter into disability?). We hear about people having a heart attack or strokes all the time, but if we look deeper into that incident what will we really see? How about a family that is dealing with a loved one as result of a stroke? People have to take time off from work to care for their loved one, schedules need to be rearranged for trips to the doctor, and then we also have to look at the person suffering the effects of knowing that their life will never be the same. It all adds up and sadly...like with many things in this world...money gets involved. Lost time from work means no money and no money means more stress. That's not exactly what the doctor would order for a person and their family dealing with the effects of a stroke or heart condition.

The goal is to get better and come out of that event on the other side. Critical illness insurance can, at the very least, help with that as policies many times pay out $50,000.00 to $100,000.00 upon diagnosis of not only heart conditions, but if the insured needs a major organ transplant or has kidney/renal failure.

I am big believer in a "God will provide" life, but what do we think these small investment offerings are? If you have questions about these types of policies, please contact me.

Gene Ramsay is a health and life insurance professional with many major carriers. He is ready to connect with you and help. Feel free to head over to http://www.generamsay.com to find out more.
I try to be a phone call (205-370-8453) or an email (gene@generamsay.com) away.

Update Mar. 17 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-03-17T05:25:00.000-07:00

By P. Rob and Sue Jeffels

You may or may not have heard about critical illness insurance but having it could save you a lot of financial problems and worry in the future. 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.

If you want to know more about critical illness insurance then take a look at this critical illness website.

P. Rob is a finance and insurance expert find out more

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Update Feb. 23 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-02-23T04:14:00.000-08:00

By Suhan Suresh Shukla

First introduced in 1983 in South Africa in the name of 'dread disease insurance', the critical illness insurance is gaining popularity in the recent days. Before its introduction, it was sold as 'cancer policy' in the US serving to provide coverage for some types of cancer. This can be considered as the precursor to the critical illness insurance of the day. It gradually gained popularity in other parts of the globe such as Canada, UK, Israel and East Asian countries.

In the event when the insurance bearer is detected with any of the critical illness conditions found mentioned in the policy, he or she might receive a tax free lump sum. The critical conditions considered include heart attack, cancer, stroke, coronary artery bypass surgery and kidney failure to mention a few. Some companies will cover only eight illness conditions while some others have recognized up to some thirty five conditions. The insurance policy is of enormous help in the financial crisis that soon follow the detection of the condition. With the financial support, the change in the living conditions can more or less be addressed.

The term dread disease previously used in South Africa was inappropriate in many markets as well as taking into account various marketing strategies too. Thus many insurance firms have abstained from using the term. The other terms used to mean critical illness insurance include living insurance, crisis cover or trauma cover. There was a time when stringent conditions were applied to assess a condition as one of critical illness. The insurance has now emerged as a financial proof against many critical illness conditions. Insurers have expanded the list of the conditions so as to tap a larger customer base.

Critical illness insurance is mainly beneficial for only those whose social insurance does not adequately cover any of the serious illness. The need for critical illness cover is mostly felt in countries with inefficient social security measures. Despite the presence of social security measures, some citizens might still want to avail of illness insurance. The motive force behind this might be the need for the best treatment and care.

The add-on benefits that come along with critical insurance need not be the payment of medical expenses alone. The policy might also cover the after effects of the critical illness. It is often that once the illness strikes a person, the environment he or she dwelled in might have to undergo some alterations to cater to the changed conditions in his or her life. It is often that the person might be unable to do any work thereafter. The financial liabilities that are incurred as a result of the illness might also be covered by the policy.

The client has to be introduced to the insurance policy in a thorough manner. This will make the picture clear to him as well as clearing him or her of any doubts. This will only add to the confidence of the customer over the product.

Author Suhan Shukla is a Professional content writer who writes on several topics including Critical Illness Insurance and much other which attract attention of many readers.

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Update Feb. 04 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-02-04T05:28:00.000-08:00

By Michael Bens

Knowing the difference in Terminal and Critical Illness insurance can help you make the right choice when considering life insurance. The Critical Ill Policy offers more in line of comprehensive coverage than the common Terminal Ill policy. In other words, you get more for your money. Recently statistics have revealed that at least “1’ out of ‘5 men’ will suffer from critical ills before they will retire. The statistics further revealed that one out of every six women would also undergo a critical ill before they will retire. Thus, the statistics also found that critical illness extended far beyond heart attacks, strokes, and cancer, therefore, insurance companies are now offer extended coverage for critical illness. There are several types of coverage available at most insurance companies, and today we are going to review a couple, including Terminal and Critical Illness Policy.

Most life insurance companies have the two distinct policies, however, sometimes the customers must ask for a quote on the extended coverage. The Terminal Ill plans will often provide coverage policyholders expected to pass on after a year as long as the plan is active. The majority of life insurance policies will include terminal illness coverage without charging extra for the plan. Critical Illness plans however, are comprehensive plans, since these policies will cover up to or more than “20” distinct illnesses. A policyholder would be wise to pay additional charges if necessary to have this type of coverage, since if you are out of work for, or your hours of work are reduced due to chronic illness, then you will have financial security available. The Critical policies will cover blindness and heart attacks; where as the Terminal coverage will not. If you become blind or undergo a massive heart failure then the critical illness, will payout large sums of ‘tax-free’ cash to you to assist your living expenses, medical needs, and so forth.

The policy will cover you if your prognoses are terminally or critical, as well as cover you if you need particular surgeries. The policy will also cover permanent loss of job due to illness. The Critical Ill Policy will cover, severe burns, ongoing disability, strokes, Parkinson Disease, Motor Neuron Disease, HIV/AIDS that are not sexually linked, Organ Transplants, cancer, heart attacks, blindness, deafness, kidney failure, speech loss, and so much more. Critical Ill coverage will also provide cash for illness such as, Alzheimer’s, Bacterial Meningitis, Niles Disease and so forth.

For the most part when you apply for life insurance, the company will factor in age, health, workplace, environment, activities and so forth to provide you a quote. The companies’ will often take for granted that your health is in good standings. Therefore, when you apply for life insurance make sure that you provide truthful details to the provider. Be sure to ask for Critical coverage, since it can benefit you over time.

Policyholders are wise to combine life insurance with critical illness coverage, since none of us can determine our future health. If you have hereditary illnesses this policy can come in handy, however, the company will also consider hereditary factors when quoting life insurance, thus your premiums may increase. Few policies increase premiums over time, therefore, searching the market for the bargains are the choice for most customers. If you smoke, your premiums will also be affected. Most companies’ define smoke in terms as “if you have used tobacco of any sort in the previous year then you are considered a high-risk. Thus, this is a potential threat to your life therefore, premiums will increase.

Most insurance companies’ follow the same guidelines, so if you are accepted for insurance coverage under the Rated Premiums, most likely you are not getting cheaper rates anywhere else. The Rated Premiums is coverage for high-risk policyholders. The high-risk category is defined as, hereditary illnesses, smokers, age, job risks, lack of activities, such as exercise, and so forth. Finally, life insurance is something we all need, but combining it with additional coverage is a choice. You may want to check with your local tax offices to see if tax deductions are available to you, thus saving additional cash.

Authored by Michael Bens. For more great information about all forms of insurance visit our free online insurance publication the Gabae Insurance Source to find the information you're looking for!

Also you can check out Gabae Insurance Articles to find the articles you're looking for!

Part B. Is Critical Illness Insurance Really That Crucial?

By Peter Goligher

It is a very common fact that the odds of developing a critical illness are relatively high. The statistics show that there is a 1 in 5 chance for men and 1 in 6 chance for women that an illness will stop them from working. Now, critical illness life cover will not alter the fact that you can contract an illness, however, it can simply take away the other potential problems, which are likely to occur such as mortgage repayments et cetera.

The bulk of people will have a life insurance policy, some people will claim they have the paramount; most comprehensive and expensive policy there is accessible from the market place, with full terminal illness cover included. That is all good and fine, but none of this will include a critical illness problem. This is where most people fall, as they purely do not know the difference. A terminal illness policy is whenever your GP lets you know that you have a maximum of 12 months to live, whilst a critical ill policy can last years without a prediction on your life expectancy such as blindness, deafness or heart attacks et cetera.

However, its not only the confusion why many people don't have a critical ill policy, other reasons include the price of critical illness life cover premiums. Yes it is more expensive, but it's a not rocket science that there is a much higher chance of you contracting an illness than dying before retirement age. On the other hand, considering combing you illness cover and life insurance policies will work out cheaper, in fact sometimes it can be that much cheaper, the life insurance fragment is almost completely free.

One of the most important factors in my belief is that many insurance companies turn down critical illnesses during a claim. Such companies include Standard Life who openly admits that they turn down approximately 20% of all claims. This is aspect is easy to understand and it would make anyone skeptical about wasting money that may never be put to use.

Not all blame is on the insurance company nevertheless, a lot of the problems are simply reading, rushing and taking for granted errors. Just because one purchases a such a policy doesn't mean that they are covered for all illnesses. Different insurance companies cover different illnesses, and its up to you to know which ones.

Another problem is basic revelation of all necessary elements within the application form. A very basic example would be to mentioning that you smoke. If you have a heart attack, this could have been influenced by your smoking behavior. The insurance company would have accessed this risk and might have put your premiums up. You could also look at it as if you were committing a type of fraud to save money, like trying to avoid the taxman for instance.

So to conclude, don't bother leaving out any facts and don't forget to reads the insurance book terms and conditions. It is not such a difficult process do to, and I'm sure many people regret not doing it.

Critical illness life insurance is a difficult choice to make as there are so many options of life insurance tax deductible properties to consider.

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Update Jan. 16 - 2010 All About "Critical Illness Insurance" By Insurance Experts

2010-01-16T04:29:00.000-08:00

By Jesse Slome

Critical illness insurance was introduced in the United States in the mid-1990s and has slowly been gaining popularity as more people realize they are more likely to have a survive a critical illness.

Some 600,000 individuals now have this protection either purchased on an individual basis or through a plan offered by their employer. Critical illness insurance is a form of health insurance that pays a tax-free, lump-sum payment should you become seriously ill.

Although the types of critical illnesses covered vary from insurance company to insurance company, the conditions typically covered include cancer, heart attack, stroke, blindness, Alzheimer's, multiple sclerosis, organ transplants, kidney failure and paralysis.

The cost for critical illness insurance depends on several factors. Generally, the younger and healthier you are, the lower the premium (cost). However, the cost varies depending on your age, medical condition, the amount of coverage, the number of illnesses covered by the policy, whether you use tobacco products and the insurance company. Coverage cannot be purchased for a pre-existing condition or illness.

It pays to shop around to get the best rate. When shopping for a critical illness plan, you should consider your income, financial obligations, dependents, and health care needs.

The following are approximate costs for a $10,000 critical illness insurance benefit. A male, non-smoker age 40 will pay about $200 yearly. A 40-year old female non-smoker will pay less, about $160-per-year. Tobacco use significantly increases costs. The same coverage for the male would be about $285-a-year and for the female applicant, it would be about $225-per-year.

To show the impact of applying at older ages, a male age 50 (non-smoker) would pay about $285 for the $10,000 of protection. A male age 50 who uses tobacco products can expect to pay as much as $475-per-year. Again, women will pay proportionately less.

Most insurers will offer critical illness insurance policies that pay as little as $5,000. However, most insurers include a policy fee that may be nominal but can make it more prudent to buy a slightly larger plan. Most insurers will offer a maximum benefit of $500,000.

Many financial professionals suggest individuals consider buying protection that equals two years worth of mortgage payments. They advocate that knowing your mortgage will be covered during a period while one undergoes treatments and recovers provides the peace of mind that provides meaningful benefit. For those with high deductible health insurance plans, adding the amount of uncovered costs may be prudent.

Costs for a $20,000 critical illness insurance benefit would be $320 yearly for a male non-smoker age 40.. A 40-year old female non-smoker will pay less, about $250-per-year. Once again, tobacco use significantly increases costs. The same $20,000 benefit for the male would be about $550-a-year and for the female applicant, it would be about $380.

Those waiting to apply at older ages will pay more. A male age 50 (non-smoker) would pay about $500-per-year for the $20,000 of protection. A male age 50 who uses tobacco products can expect to pay as much as $850-per-year. Again, women will pay proportionately less than male counterparts.

The American Association for Critical Illness Insurance maintains an online cost calculator that depicts average costs for policies that range from $10,000 up to $50,000.

The Association has an online Cost Calculator to see policy costs for benefits ranging from $10,000 to $50,000 for men and women (both smokers and non-smokers). To see the online page go to Critical Illness Insurance Cost Calculator.

Article Source: http://EzineArticles.com/?expert=Jesse_Slome

Do You Need Critical Illness Insurance to Avoid Medical Bankruptcy?

By Jesse Slome

In the time it takes you to read this sentence, the bills from a critical illness may have forced yet another American to file for bankruptcy. Some 1.4 million Americans will file for bankruptcy in 2009, which equates to about three every minute.

Medical problems contributed to over 60 percent of all bankruptcies in the United States and a Harvard University study found that more than three-quarters (77.9 percent) had health insurance at the start of the bankrupting illness. This study was performed prior to the current economic downturn and will likely understate the current burden of financial suffering.

What is taking place? And, what do consumers -- especially middle class families -- need to know to prevent calamity?

A decade or two ago, people who suffered heart attacks died. No longer. Cancer was prevalent but not as common as today. If you had a stroke, chances are you were not likely to resume a more normal life.

But all that has changed. Early detection of critical diseases, better medical care and new prescription medications and more rapid emergency treatment enables millions of Americans to survive critical illnesses. Survival however comes with a steep cost.

Critical illness are striking more Americans every single year. Consider the following: 1.4 million Americans are diagnosed with cancer (American Cancer Society). An estimated 785,000 Americans will have a first heart attack and some 600,000 Americans will experience their first stroke (American Heart Association). The vast majority will survive.

The financial consequences of surviving a critical illness are something few people are prepared for. Most health insurance policies come with deductibles and co-pays, that can be as much as $5,000 a year. Prescriptions are not just costly, they are rarely fully covered.

And, here is something you likely have not considered; while you are undergoing treatment or recovering for an extended period of time, you will still have to pay your health insurance premiums. You'll pay insurance, rent or mortgage, credit card bills, school tuition, real estate taxes, food and utilities.

According to the Harvard study, many families with health insurance found themselves under-insured and responsible for thousands of dollars in out-of-pocket costs. The average out-of-pocket cost was $17,749 for all medically bankrupt families. Because most health insurance is linked to employment, a medical event can trigger loss of coverage. For patients who initially had private coverage but lost it, the family's out-of-pocket expenses averaged $22,568.

In the late 1990s, a new financial product was developed to help consumers cover expenses associated with critical illness. Appropriately, it's called Critical Illness Insurance. This specialized insurance provides a lump-sum, tax-free payment should a policyholder suffer from certain specific critical conditions. Some 600,000 Americans now have this protection purchased on an individual basis or through a plan offered by their employer.

The cash payments which can range from $10,000 to as much as $1 million are paid as a single, lump sum as soon as the individual is diagnosed with a covered cancer, stroke, paralysis or a heart attack. The cost for protection is based on the individual's sex (men pay more than women), age at the time of application, health conditions and whether one uses tobacco products.

As an example, a male age 40 (non-smoker) seeking a cash benefit payment of $10,000 would pay between $180 and $200-a-year for critical illness insurance. Smokers will pay about 50 percent more. A female age 50, purchasing $20,000 of coverage, will pay about $350 a year. Rates for smokers increase significantly after one reaches age 50.

Deciding how much critical illness insurance protection to buy is clearly a personal decision. A simple way to approach the matter is to multiply your monthly mortgage payment by 24 (2 years worth). Imagine the peace of mind of knowing you'll be mortgage-payment free while you recover and undergo treatment.

A number of insurers will issue up to $50,000 or critical illness insurance coverage without a medical exam. Referred to as simplified issue, this is a good way to go for the vast majority of individuals. It is also the most affordable and a good place to start the processing of considering this highly important form of protection.

Article Source: http://EzineArticles.com/?expert=Jesse_Slome

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Update Dec. 29 - 2009 All About "Critical Illness Insurance" By Insurance Experts

2009-12-29T10:41:00.000-08:00

By Lilly L Fry

It's very easy to take 'normality' for granted, and time can fly when everything's going to plan. Quite suddenly, life can be totally turned upside down for you and your family with the news of a terminal illness. This news doesn't necessarily always mean your death. There are a number of illnesses, such as heart attacks, strokes and cancer, as well as accidents, that can leave you alive but in need of care, and unable to live the life you once did.

This can be a very difficult and challenging time for both you and your loved ones. The changes are emotionally and physically demanding, but more often than not, one of the biggest burdens during a situation like this is the financial aspect of it all. Everyone is adapting to new circumstances, and worrying about bills should be the furthest thing on your mind when you need to be concentrating on recovering.

Take care of the potential threat an accident or illness poses on your family's financial stability, and take out critical illness insurance.

Like all kinds of insurance cover, the quote is in the details. Different companies will cover you for different ranges of terminal illnesses and accidents. Be sure to review exactly what you are covered for in a quote, and decide what kind of cover you are looking for. Once you know specifically what kind of cover you require, you can begin to compare prices and find the best deal for you.

Cover can be arranged for both you and your partner, making sure that no matter which of you may suffer with your health, your family are prepared financially to cope with any changes that come.

You should be able to add critical illness cover to your current life insurance policy if you have one. Contact your insurer, and see if you can get the critical illness benefit added to your plan. This will increase your monthly premium, but will give you better protection against anything that life throws at you. If you are looking to move you plan to another provider, do not cancel your current plan until you are certain your new plan is in place and is actively providing you cover.

Pay outs on life critical illness plans usually occurs on death or diagnosis of a specified illness or injury. If the plan comes to an end, and no lump sum has been required, then no further money is paid out, as this type of cover does not have cash in value at any point.

Always check the detail of your policy and what it covers.

Lilly L Fry writes for Theidol.com specialize in all types of insurance. The company deals with UK's best known insurance brands and you can compare prices online. Visit http://www.theidol.com for more information.

Article Source: http://EzineArticles.com/?expert=Lilly_L_Fry

Life and Critical Illness Cover - A Comparison

By David H Thomson

There are a number of different forms of life insurance, whilst critical illness insurance also has a number of variations depending on the particular policy or insurer chosen. Nevertheless, there are sufficient broad principles involved for it to be helpful briefly to compare the principles involved in life and critical illness cover.

Life insurance

As the title suggests, life cover is essentially an insurance on the policy holder's life. It typically involves an assessment of the risk of the policy holder dying within a given period (usually defined as the insurance term) and, in the event of that possibility, paying out a predetermined, guaranteed sum to the beneficiaries named by the policy holder. Such term life insurance therefore typically offers a way of providing for any dependents in the event of the policy holder's untimely death and is often used to ensure that a mortgage or other debts are cleared, so that surviving family members are relieved of the burden of repayments.

The typical term life insurance policy, therefore, involves the following:

Deciding the amount of cover required (in other words, the payout made in the event of the policy holder's death). If a mortgage is to be covered, for example, the amount insured might be the amount outstanding at the time of the policy holder's death. If it is a repayment mortgage, that balance reduces over time and, so, a particular form of life insurance, called reducing term life insurance is available to cover the reducing balance as the years progress;

The amount of cover purchased is directly proportional to the amount of monthly premiums that need to be paid;

Since life insurance is based on the principle of life expectancy, the younger the prospective policy holder, the cheaper the premiums are likely to be;

Premiums are payable throughout the insured term and if the policy holder survives that term, then no payout is made.

Life insurance is also sometimes used to describe a product more correctly termed life assurance or whole of life insurance. This guarantees a payout whenever the death of the policy holder occurs. Because of the certainty of the insurer having to pay out at some time, therefore, whole of life insurance premiums are invariably more expensive than those for both life and critical illness cover.

Critical illness insurance

In the comparison of life and critical illness cover, perhaps the most notable difference is that it is the policy holder who receives any benefit to be paid out by the insurer. Just as the title suggests, of course, the insured risk is of the policy holder being diagnosed with a critical illness during the term of the cover purchased. The lump sum payment might be used to provide an alternative income if it is no longer possible to work or for the purchase of medical care or alterations to the home to accommodate a critically ill person.

The typical critical illness insurance policy, therefore, involves the following:

Deciding on the amount of lump sum benefit likely to be needed or desired in the event of such a diagnosis;

Once again, that level of insured benefit determines the amount to be paid in monthly premiums;

Understanding which critical illnesses are covered, since these are likely to differ from insurer to insurer;

No benefit is payable if the policy holder completes the insured term without a diagnosis of any of the defined critical illnesses.

Both life and critical illness cover, therefore, represent cost-effective ways of safeguarding you and your family's financial circumstances in the event of the unexpected.

David Thomson is Chief Executive of BestDealInsurance a completely independent specialist broker dedicated to providing their clients with the best insurance deal.

They offer great value life insurance as well as, critical illness and income protection, ensuring that their clients have the protection they need, without leaving a hole in their pocket.

Article Source: http://EzineArticles.com/?expert=David_H_Thomson

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Update Dec. 09 - 2009 All About "Critical Illness Insurance" By Insurance Experts

2009-12-09T04:27:00.000-08:00

By David H Thomson

Getting the right insurance policy to cover you and your family doesn't have to just involve taking out life cover. There are other types of policies that you may also want to consider at the same time such as critical illness cover. Although these policies may be taken out separately, many people opt to take out a joint life and critical illness insurance option as an alternative.

This may well be a good solution if you are thinking about everything that might go wrong in the future. Life protection as a whole is designed to help your family cope with money if you die. But, many people do survive their life policy but may get an illness or serious medical condition that affects them financially as well. Their life cover isn't designed to help in this instance.

But, if they have critical illness protection then this may do the job for them. This kind of policy is taken out so that they have an insured lump sum to tide them over if they do fall seriously ill. If you, for example, had a serious heart attack or contracted a form of cancer then you might not be able to work to earn the money you need. This is where critical illness may come in useful.

A combined life and critical illness insurance policy may work well for some because it does potentially cover all the angles. So, you may be able to get protection against:

Your death -- the life element of your policy may help protect your family against financial problems if you die unexpectedly. This may, for example, help them cover your mortgage commitments, debts and their everyday living expenses for a period of time.
Your illness -- the critical illness part of your policy may help protect both you and your family if you do get really ill. The lump sum payment here may just help you carry on meeting your monthly financial commitments, for example. Or, you may decide to use it to pay off your mortgage so you don't have to worry about it. Many people in this situation find money a big worry.

There are things you may need to think about before trying to take out a life and critical illness insurance policy. For example, you may want to consider:

Whether you want a single policy or one that also covers your partner/spouse.
Whether you have any medical conditions already that may affect the cover you get.
If you have any lifestyle factors (i.e. smoking) that may influence your policy costs.
How much you need to insure yourself for for both elements of the policy.
How long you want the policy to last for.

These considerations may well have a bearing on the policy you are able to get and how much it costs you in your monthly premiums. For example, taking out a joint life and critical illness insurance policy with your partner may work out cheaper in some cases. In others separate policies may be a better option.

David Thomson is Chief Executive of BestDealInsurance a completely independent specialist broker dedicated to providing their clients with the best insurance deal. They offer great value life insurance as well as, critical illness and income protection, ensuring that their clients have the protection they need, without leaving a hole in their pocket.

Article Source: http://EzineArticles.com/?expert=David_H_Thomson

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Life Insurance and Critical Illness Insurance. Cancer Tests To Increase Women's Premiums

By Michael Challiner

Ladies, if your mother or any other female blood-line relatives have a history of breast or ovarian cancer then from next year onwards, you could face higher insurance premiums. You could even be refused cover altogether.

When these women apply for life and critical illness cover, the insurance industry wants to ask them whether they have been tested for the gene mutations BRCA1 or BRCA2. These are the gene complications that increase the chances of them developing these cancers. But before the insurance companies can ask these questions on their application forms, they must get approval from the Genetics and Insurance Committee, the body that advises the Government on these and similar issues.

In the coming months the Association of British Insurers (ABI) will be requesting the Committee for authority to ask women whether they have been tested positive for BRCA1 or BRCA2 gene mutations. These are the mutations that are present in 1 in 10 of newly diagnosed cases of ovarian cancer and 1 in 20 of new cases of breast cancer. Approximately 1 in 850 women in Britain inherit a faulty BRCA1 gene and of those, 14 – 18% will develop breast cancer during in their lives.

On the web site for the Genetics and Insurance Committee we found a notice saying, ” The Committee expects that the Association of British Insurers will submit in late 2006/2007 four revised and updated applications for the use of adverse results from the predictive genetic tests of the BRCA1 and BRCA2 genes (breast/ovarian cancer) in helping to determine insurance premiums for life and critical illness insurance”.

So far, application forms issued by British insurance companies are only allowed to ask for the results of predictive tests for Huntington's disease. Even then, the question can only be asked when the application is for more than £500,000 of life insurance cover or mote than £300,000 for critical illness insurance or over £30,000 for payment protection insurance. This rule is set under an agreement entered into by the insurance industry which is due to expire in 2011 but the Chairman of the ABI's Genetics Working Party, Harpal Karlcut, is reported in the trade insurance magazine “Cover”, as saying: -

“We are looking to get approval for the breast cancer test by the end of the year”, adding, “The two breast cancers are the next conditions that we will look at but after that we don't see the need to look at other conditions. We do keep an eye out for what diseases may come up in the future but there is nothing else on the horizon”. We add another important rider – yet!

Express specialise in life insurance quotations but also offer both critical illness cover and life assurance policies.

Article Source: http://EzineArticles.com/?expert=Michael_Challiner

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Update Nov. 18 -, 2009 All About "Critical Illness Insurance" By Insurance Experts

2009-11-20T05:21:00.000-08:00

By Joseph Kenny

Unless you have substantial savings, even in the UK, contacting a serious illness, such as cancer, can be a very costly affair. Above all, not only do you need to consider how contracting such a critical illness will affect your savings in any medical care bills, but you also need to consider that you may well not be able to earn any income to cover you day-to-day expenditure. As a result, making sure you take out a critical illness insurance may well be one of the wisest and astute financial decisions you make.

What Is Critical Illness Insurance?

In short, a critical illness insurance policy is very much like any other insurance policy you take out. Here, however, your premiums go towards insuring that you do not contract a critical illness. In the event that you do contract a critical illness, your UK insurance provider will pay you out a tax-free lump sum to help you cover the day-to-day costs of having to live with your new medical condition.

Are There Any Limitations With Critical Illness Insurance?

Yes; it is essential that you look at the list of critical illnesses that your insurance policy covers, as these will be the only illness under which the policy will pay-out. In other words, the UK insurance provider will not pay-out on the policy simply because you have a doctor’s certificate that you have a critical illness, it needs to be one of the designated critical illness.

Moreover, if you are considered by the UK insurance provider to be a high risk – for example, if you smoke – then it is likely that either you will not be able to obtain the critical illness insurance, or your insurance premiums will be significantly higher than if this were not to the case. Importantly, you will need to disclose whether or not you have any existing conditions, in which case these will likely not be included, and whether or not your family has a history of the illnesses set out in the policy, in which case this will likely affect your premium payments.

How Will I Be Paid?

As mentioned, with a critical illness insurance your UK insurance underwriter will pay you out a lump-sum tax free amount once you contract one of the critical illnesses listed in the policy. Having paid out the lump-sum amount, your relationship with the UK insurance provider will come to an end. In other words, you will not have an ongoing relationship with the insurance provider paying you intermediate payments.

Is It Worth Having Critical Illness Insurance?

The question of whether or not there is any value in you having a critical illness insurance will depending largely on your age, expenses, and whether or not you have any other insurance. Essentially, critical illness insurance covers an area for which other types of insurance can be obtained. However, unlike other types of insurance, this is a very specific insurance policy paying out for a very specific purpose. That said, there is a strong argument that you can never really have too much insurance and will numbers seemingly showing that more and more of us contracting critical illnesses as we grow as an aging population, this type of UK insurance is always useful.

Joseph Kenny writes for the credit card comparison site CardGuide.co.uk. The site is full of credit card information, news and tips including credit card insurance

Visit the site today: http://www.cardguide.co.uk

Article Source: http://EzineArticles.com/?expert=Joseph_Kenny

Life and Critical Illness Insurance Compared

By David H Thomson

There is typically a place for both life and critical insurance in the armoury of defences for the continuation of normal family life following the death of one of it's breadwinners or other providers. Understanding where each of these types of insurance fits, however, is probably repaid by a closer comparison of the two.

Life insurance

Life insurance is conventionally probably the better known of the two. It operates on the simple and straight forward principle that the death of a family member is likely to leave the survivors with expenses leading to potential financial hardship. Indeed, this way of saving for such expenses - first and foremost the expenses of simply according the deceased a respectful burial - mainly took off during the latter part of the 19th century and the growth of many "friendly societies" offering just this form of saving for those inevitable expenses. These recognised not the risk of death so much as its eventual inevitability and so was given the title of life assurance (an assured sum paid out when the insured person died) rather than a risk orientated life "insurance."

As the principle developed, however, it was realised that it was possible to introduce an element of risk assessment if the premiums paid were to provide a cash benefit in the event of the insured's death during a certain period of tme - this became known as the insurance term and, so, term life insurance was born.

This development allowed individuals with commitments to any dependents to insure against the risk of their dying before their time - within an insured term - therefore not leaving their dependents financially in the lurch.

Critical illness insurance

To compare life and critical illness insurance, it may typically be helpful to see the latter as a further refinement of the former. It is not just the death of the insured person that may leave the surviving dependents in financial hardship. If a critical illness is diagnosed, the inability to work or the need for specialist medical care, can also take their toll on the family finances. Critical illness insurance, therefore, is also typically based on the payment of a regular, monthly premium, in return for which the insurer pays out an agreed lump sum benefit in the event of a defined "critical illness".

If a critical illness is diagnosed, therefore, the insured and his or her family have the comfort of knowing that additional cash is be forthcoming to use as an alternative source of general income, to make needed alterations to the family home in order to accommodate any physical disabilities, or to hire the nursing or care staff needed to help the critically ill person.

Because different insurance policies define a "critical illness" in a wide range of ways - some relatively limited and restricted; some with a much wider interpretation - it is important to understand very carefully exactly which illnesses are covered in any policy you intended to buy.

In summary, life and critical insurance may be something to consider if you are worried about leaving those you love behind in a state of financial worry.

David Thomson is Chief Executive of BestDealInsurance a completely independent specialist broker dedicated to providing their clients with the best insurance deal.
They offer great value life insurance as well as, critical illness and income protection, ensuring that their clients have the protection they need, without leaving a hole in their pocket.

Article Source: http://EzineArticles.com/?expert=David_H_Thomson

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Update Nov. 02 -, 2009 All About "Critical Illness Insurance" By Insurance Experts

2009-11-02T08:57:00.000-08:00

By Geoff Jones

Critical illness insurance pays out if you develop a critical illness. The name says it all. It is increasingly popular as medicine can cure many more serious illnesses but patients may not be able to carry on working either full time or at all.

Along with life insurance it is a big step towards ensuring your family is covered and will be able to keep paying the bills. It is of course a heavily regulated sector of the insurance industry and all critical illness policies have to cover some common problems.

Main Illnesses Covered.

Cancer is covered in all polices although there is now some attempt to vary the terms depending on the cancer and it's seriousness. Not all cancers are the same in terms of survival rates with some being very curable and others less so. So most policies will actually list the types of cancer they cover and those they may either exclude or pay out less on for a limited time.

Heart disease is covered and this usually means a heart attack rather than angina or high blood pressure. Some policies may also pay out if you need an operation like a heart bypass, but with the increasing use of minimally invasive surgery using telescopes payouts may be limited. Overall recovery after telescopic surgery is far, far quicker than after traditional open heart surgery.

Strokes resulting in permanent symptoms and problems. Again the policy should spell out clearly which of the many possible symptoms are covered. Mini strokes may be excluded, as they leave no residual problems.

Most policies cover a wider range of conditions than the here above. Other conditions including neurological problems, kidney disease, organ transplants, respiratory problems, loss of hearing or sight may well be covered. Your policy will clearly list all the diseases covered and hopefully also those not covered.

As with buying anything the key to the best deal both in terms of price and the amount of cover is to shop around and look at several companies before buying your critical illness insurance.

Geoff Jones is a freelance writer and has been active writing and contributing on the Internet for 10 years. He specialises in the medical and health but also writes on a wide range of other topics. Why not visit his latest website for information on 0 credit cards to save you money or credit cards with rewards for a little something extra each month.

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Taking Critical Illness Coverage

By David H Thomson

Unemployment often seems to be something that happens to someone else and many of us take the continuing good health that keeps us in work almost for granted. Unfortunately, however, the world is not quite like that. A major or serious illness may come right out of the blue and put paid to the prospect of ever working again. In order to cope with the financial hardship that follows in the wake of such a diagnosis, critical illness cover typically provides a safety-net.

How does the insurance work? Given the whirlwind of emotions that may inevitably surround the discovery that you have such a serious medical illness or condition, critical illness cover in fact often typically works in an amazingly simple and straight forward way. A monthly premium is paid and, in return, the insurer guarantees a lump sum payment in the event of the insured being diagnosed with a critical illness (subject to a successful claim being made). Choosing how that lump sum is spent is entirely a matter for the insured (and, potentially, his or her beneficiaries).

Thus, critical cover is closely akin to life insurance. Both involve payment of a monthly premium and both make a guaranteed lump sum payment in the event of the insured risk occurring. Indeed, some critical illness insurance policies automatically (or optionally) include an additional death benefit payment, since some critical illnesses lead to the death of the insured.

What is it? One of the most important considerations when choosing critical illness cover is the insurer's definition of what constitutes a critical illness. The fact is that the definition varies widely from one insurer to another and probably the last thing anyone wants is to believe that they are protected by an insurance, only to discover that their particular illness is not covered. To help consumers unravel some of the mysteries of varying definitions, therefore, the Association of British Insurers has devised a table of those illnesses typically covered by their members are grouped them under just three separate headings:

Core critical illnesses - including cancer, heart attacks, strokes, kidney failure and major organ transplants;

Additional critical illnesses - which might include such conditions as deafness, blindness and coma; and

Other conditions - this includes a list of other, generally less serious, conditions and illnesses.

As you see, therefore, the definitions are by no means clear-cut and consumers considering critical illness cover are well advised to be absolutely clear which definitions apply in the case of the policy they might be intending to buy.

How much cover do I need? As so often in questions involving insurance, the level of critical illness cover you might need depends largely on your personal needs and circumstances (one of the reasons, too, why the help and guidance of an experienced insurance broker may be worthwhile). Some of the additional expenses the cover might be expected to meet, for example, are modifications to the layout of your home if the illness is physically incapacitating or nursing care during severe episodes of the illness.

Critical illness cover settlements typically might also be invested to provide an ongoing, regular income to meet everyday bills, such as the rent or mortgage, credit repayments, food and clothing.

David Thomson is Chief Executive of BestDealInsurance a completely independent specialist broker dedicated to providing their clients with the best insurance deal.
They offer great value life insurance as well as, critical illness and income protection, ensuring that their clients have the protection they need, without leaving a hole in their pocket.

Article Source: http://EzineArticles.com/?expert=David_H_Thomson

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Update Oct. 14, 2009 All About Critical Illness Insurance By Insurance Experts

2009-10-14T05:56:00.000-07:00

Insurance is one of the must haves a man should posses, which can help a great deal in crisis. Critical illness insurance is one kind of insurance that pays you money, if you are diagnosed with any kind of life threatening illness or something that may force you to discontinue the current profession. This life insurance critical illness cover will help you in some financial situations for household bills and mortgage repayments for a certain period of time, even after losing a job or being hospitalized.

Remember, this is not normal life insurance coverage and the policy holder need not die, for the family members to be able to avail the benefits from the policy. This plan is implemented mainly to help the insured person, when he or she has to undergo any kind of surgery or suffering from any kind of serious illness. Make a note that the illness that you get should be in the stated list of the company. If the illness that you have is not in the list, then you cannot avail any benefits from the life insurance critical illness policy.

There are varied numbers of policies available and the term of the plan depends on your health, sex, occupation and age. It is essential that you get all the needed documents once you have applied for insurance plan of your choice. Before issuing a policy to any person, the insurance provider may try to discuss about the family history and possibility/symptoms of the major diseases like heart diseases, cancer, kidney problems etc.

There are two types of terms provided in the life insurance critical illness plan, namely the mortgage life cover and fixed term life cover. You can also take a critical illness cover along with your life insurance policy by paying additional money. This will give a lump sum amount, if you are identified with any kind of special critical health problems. The minimum term that most of the insurance providers offer is two years and maximum is 40 years.

Click on the link to find various types of Life Insurance Critical Illness Plans.

To get hassle-free instant cheap auto insurance quotes click-here.

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Critical Illness Life Insurance - How to Get a Cheap Rate
By Tessy Michael

To get cheap life insurance is easy regardless of the fact that you have a critical illness. You state of health will affect your insurance cover rate but you can also find the company that will give you cheap rate for you life insurance despite you ill health. Normally, people with critical sickness pay more for their life assurance, but they are ways through which you can get cheap cover rate for your life insurance despite your critical ill health.

I have always told people that life assurance is a need and every individual needs to insurance their life against any casualties, but the need for life insurance should be the reason for paying all you earn to your assurance company because you have a critical illness. People with critical illness can get cheap life cover if only they know where and how to get the best rate for their life cover. If you read this article carefully you will get all the tips you need to get the best rate for your life cover despite your health report.

Critical illness and insurance are serious antagonists. If you have a critical sickness no insurance company will want to give you cover for less, be it health insurance, auto insurance, life insurance because your health condition is putting them at serious risk of losing money in case any thing happen any time either while driving or while cooking, it can curse car accident or fire accident and so on. So, insurance companies are very careful to get involved in such risk without.

For tips on how to get cheap life cover READ MORE.

Where to find cheap life cover DESPITE YOUR CRITICAL ILLNESS

Article Source: http://EzineArticles.com/?expert=Tessy_Michael

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What Does Critical Illness Insurance Cost?
By Jesse Slome

It pays to shop around to get the best rate. When shopping for a critical illness plan, you should consider your income, financial obligations, dependents, and health care needs.

The American Association for Critical Illness Insurance maintains an online cost calculator that depicts average costs for policies that range from $10,000 up to $50,000.

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Update Sept. 25, 2009 All About Critical Illness Insurance By Insurance Experts

2009-09-25T03:23:00.000-07:00

What is Critical Illness Cover?
By David H Thomson

Critical illness insurance may be taken out as a standalone policy or you may choose to have it added onto your term life insurance policy or indeed any other form of life insurance you choose. While life insurance pays out if you die, critical cover for illness pays out if you are diagnosed with any of the critical illnesses defined in the terms and conditions of the policy.

There are many different levels of cover with some policies providing protection against more illnesses than others do. Therefore, check to find out what illnesses and diseases any policy you are considering covers before rushing into taking it out.

Generally, a policy may cover such as heart attack, stroke, major organ transplant, loss of a limb and some types of cancers. However, there may be some limitations so these have to be checked in the small print before taking out the insurance. For instance, the insurance may not cover certain types of cancer. Generally, there has to be strong evidence of a heart attack before the policy pays out and there may be many other exclusions and limitations.

Critical illness insurance may be a lifeline as today with advancements in medicine and treatments, more and more individuals are surviving once being diagnosed with a critical illness. However, this is not to say that life is the same after being diagnosed and in many cases, severe financial hardship comes about as the result of the illness. If you are the main wage earner in the family and you cannot work after suffering a critical illness a struggle may ensue to find the money to continue meeting the mortgage and other outgoings, not to mention day-to-day living costs. With this insurance, the policy is there to be claimed on providing you live over a certain amount of time after being diagnosed with one of the illnesses covered in the policy.

When looking for this type of insurance, you may find a policy with competitive premiums if you allow a specialist insurance website to search for the most suitable cover for you. A comparison is then made by you to find the most suitable insurance for your needs. When applying for this form of insurance you may be asked many questions relating to your health. It is essential that you answer these fully and honestly, as they may affect any claim if you were to have to make one in the future. Usually you have to hold the policy for a certain period before making a claim against it. Without critical illness insurance to fall back on, if you were to be diagnosed with a critical illness you and your family may have to not only deal with the illness and the changes to your lifestyle but also bear a financial struggle too.

David Thomson is Chief Executive of BestDealInsurance, an independent specialist broker dedicated to providing their clients with the best deal on their life insurance, critical illness cover and home and motor insurance.

Article Source: http://EzineArticles.com/?expert=David_H_Thomson

Do You Need Critical Illness Insurance to Avoid Medical Bankruptcy?
By Jesse Slome

What is taking place? And, what do consumers -- especially middle class families -- need to know to prevent calamity?

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Terminal Illness and Critical Illness Insurance
By Michael Bens

Authored by Michael Bens. For more great information about all forms of insurance visit our free online insurance publication the Gabae Insurance Source to find the information you're looking for!

Also you can check out Gabae Insurance Articles to find the articles you're looking for!

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Update August 17, 2009 All About Critical Illness Insurance By Insurance Experts

2009-08-17T04:56:00.000-07:00

How Life and Critical Illness Insurance Work Together
By David H Thomson

Life and critical illness insurance are often mentioned in the same breath because they are sold as a package by insurers, although it is possible to get one and not the other. Life insurance in its most basic form involves a straightforward payout to a named beneficiary in the event of the policy holder's death, while critical illness insurance will pay out in the event that the policyholder is diagnosed with a serious but not necessarily life threatening illness.

The idea with both types is to provide financial support for either the policyholder or loved ones in the event of a tragic and distressing event such as a death or serious illness. Both events can be life changing for those concerned, and financial support from an insurance policy can be used to cover everything from basic funeral costs right the way through to healthcare or simply to replace the lost wages of someone who has died, effectively filling the gap left by the lack of the main bread winner being in the house.

Life insurance on its own comes in many different forms and the most basic is level term cover, which involves a guaranteed amount of payout running right the way through the length of the policy. The amount won't change over time and if somebody does need to claim then they'll get the full amount. However, the amount of cover will be for a fixed period only and not right the way up until someone's death, whenever that may be. For a payout to be made on this kind of insurance the claim will have to be made i.e., the person will have to die, within the set policy period. Even if somebody died only a few days after a policy expires, they would not be covered.

Other types of life insurance will involve a payout which decreases over time in line with someone's mortgage, effectively providing a safety net for a loved one who may be left with an outstanding home loan in the event of someone's death.

Critical illness insurance is often attached as a bolt on to life insurance and is similar to life cover, but pays out not in the event of death but the event of diagnosis of a serious but not necessarily fatal medical problem. Some examples might include cancer, multiple sclerosis, or a similarly serious condition. For a full breakdown on this you can ask the potential insurance company.

The benefits of this mean that somebody can spend the payout just how they wish, perhaps spending some of it on private treatment and some other on a holiday, or simply giving some of it to loved ones. There is no condition normally put on how you spend the money which comes from critical illness insurance, just in the same way there is normally no condition put on how the beneficiary spends the money from life insurance.

Life and critical illness insurance can be combined together to provide a kind of last resort safety net against tragic circumstances which could leave somebody's loved ones in a financial mess or could mean that somebody diagnosed with a medical problem in the latter stages of their life finds themselves in financial difficulty or would prefer private treatment but simply can't afford it.

David Thomson is Chief Executive of BestDealInsurance a completely independent specialist broker dedicated to providing their clients with the best insurance deal.
They offer great value life insurance as well as, critical illness and income protection, ensuring that their clients have the protection they need, without leaving a hole in their pocket.

Article Source: http://EzineArticles.com/?expert=David_H_Thomson

Critical Illness Insurance - For You, Your Children and Your Business
By Peter Goligher

Now a days, a simple life insurance policy is not enough for many individuals due to the occurrence of critical illnesses arising within populations. You may not have a critical illness at present, but what happens if you develop one in the near future?

Many people are taking this problem very seriously, and this has been demonstrated with an increase in life insurance policies with critical cover by 31% between the years of 2001 and 2003.

Critical life cover is to a certain extent covering an individual in the event development of an illness. It allows for them to resort a tax free lump sum upon distinction of an illness. Many illnesses are covered by the majority insurance companies with varied terms and conditions. Such Critical illnesses covered include Alzheimer's disease, cancer and kidney, liver, heart problems et cetera.

Who should have a critical illness policy?

That question has several answers, and many individuals will tackle it differently. Some may think because there is no history of illness within the family tree that they wont get one, thus abandon the thought of a policy. The problem is, everyone is susceptible, although not everyone will develop one. In my opinion, everyone should have this type of cover, as once an illness develops, you will inevitably need money for medical costs, mortgage payments if your out of a job and general living costs.

This generally means that not only will you be able to provide for yourself, but your beneficiaries will also be looked after such as your family. Another great aspect of critical cover is that your children can also be named on the policy. Lets face facts, if your child develops an illness, you want the best treatment and care available. It also allows you to take time of work and still have good living expenses for everyday life.

Different types of critical policies are available such as basic and fully comprehensive. The basic plan will cover the main conditions whilst the fully comprehensive cover will meet many more demands such as permanent disability, loss of hearing and site et cetera.

The main point is that a lot of people are becoming critically ill with increases above 20% of all adults developing illnesses within the UK before even reaching retirement age.

A very dependent aspect of illness coverage would be for many businesses. The reason for this is because it would offer financial aid if an important employee such as a manager or company director becomes ill and needs medical treatment. This is such an important aspect to the smooth running of a business, as a business could potentially collapse without the proper management, and despite this, only 10% of small businesses have this type of cover.

There are lots of websites on the internet offering this cover, however, this can be a hassle as many of the quotes will have a great variation in criteria, terms and conditions, thus making it easy to get it wrong. Most companies will give you a cheap price to attract you, but not necessarily giving you the desired cover that you require. So whats the best way to discover your best policy?

The humble way to find the right type of coverage would be to use a specialist critical-illness broker. They'll offer a comprehensive service, search for, and find the right policy for you and offer a discount too. You'll find them on the internet, phone books and around the corner from yourself.

Peter Goligher is the founder of http://www.cookyourselfthinrecipes.com and invites you to get skinny with "Cook Your Self thin recipes"

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All About Critical Illness Insurance By Insurance Experts

2009-08-05T00:08:00.000-07:00

Critical illness insurance is a type of insurance which will pay a lump tax free benefit to the insured if he is diagnosis of one of the critical illnesses covered by the policy. The benefit is intended to help insured persons maintain their quality of life and financial independence after suffering a life-threatening illness. Be sure to understand that critical illness insurance is not 1. based on the inability to work or the death of the insured. 2. needed to be a specific expense that is incurred to qualify for the benefit. It is designed to pay a lump sum benefit when a person is diagnosed with a covered condition and subject to a waiting period. This type of insurance creates a great deal of financial flexibility for insured who suffers a major illness.

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Life Insurance With Critical-illness Cover

The great thing about getting a life insurance quote is that critical-illness cover usually comes at no, or very little, additional cost. How does it work? Critical-illness cover will pay you a lump of cash if you are diagnosed with a critical illness that is covered by your insurance. When you ask for a life-insurance quote, insurers will explain that critical-illness is available only with life insurance cover. If you are diagnosed with a critical illness, you might need the money to adapt your home or just pay your bills.

If it pays out, you can use the lump sum to adapt your home if need be or get help with medical costs. If you are diagnosed with a qualifying illness such as heart attack. artery bypass surgery, kidney failure, cancer and other qualifying illnesses, you benefit is payable tax free. You should not, however, confuse critical-illness cover with private insurance, which is used to pay for medical treatment in the private sector. Life insurance with critical illness cover is also different from income protection cover. This kicks in once you have been unable to work for a particular length of time, perhaps six months, and pays you a monthly sum.

When you obtain a quote for life insurance with critical illness it is important to remember that not every policy provider covers the same illnesses, though all policies do cover cancer, heart attack and stroke. Be careful to get a quote for the right life insurance with critical-illness cover for your needs. It would be unimaginable to take a life insurance policy with critical illness cover, and be left high and dry at a difficult time. To achieve this, it's always a good idea to speak to an independent advisor who has no axe to grind.

In 2003, new rules came in that changed the conditions under which you can claim on critical-illness policies. The rules, set by the Association of British Insurers, mean that the insurance won't cover conditions like non-invasive skin cancers or tumours that have yet to invade the organ or tissue.

Conditions around heart attacks and the this type of insurance have also been tightened. For a claim to be successful, there must be evidence of chest pain, or changes registering on the ECG. More moderate conditions like angina are no longer covered by critical-illness insurance.

It should be noted that most insurance companies have a main list of qualifing illnesses and a secondary list of illnesses that the believe are serious enough to pay out on. For instance, a minor heart operation may not be classed as a qualifying illness by every provider. HIV and AIDS is a common exclusion from this cover if it is a result of drug abuse. If you do not take medical advice given by your doctor which leeds to a critcal illness this could invalidate your cover. Critical-illness cover is handy if you have family dependants. But, if you're single, it's arguably more vital than life insurance. it could repay your mortgage balance meaning you will have no mortgage payment to make.

Copyright (c) 2009 Mark Walpole

By: Mark Walpole

Article Directory: http://www.articledashboard.com

On life insurance with critical-illness cover, we rebate at least half of the initial commission that the provider would have paid to us back into your policy, to lower your monthly premiums. Why not visit Godirect.co.uk to find advice on buying life insurance and critical-illness cover. You'll find full information on your protection options and can get a life insurance quote critical-illness cover.

Critical Illness Insurance Do You Really Need It? Or Is It A Waste Of Time?

GREAT NEWS! There's now a one in five chance of you winning the lottery before you retire.

Getting excited? Think it's just a matter of time before you win? Think again, it's not going to happen - but it got you thinking!

Now think of the same odds but this time about bad news. There is a 1 in 5 chance for men and a 1 in 6 chance for women that a long-term critical illness will prevent them from working. Sorry - this time it's true.

Insurance cannot change those odds but it can alleviate the potential financial wreckage caused by being unable to work through long-term illness and still having a family and home to support.

Convention declares that every good family man should have life insurance. It's easily understood, it's accepted and your next door neighbour has it too. But what about it's close cousin critical illness insurance? You'll have to walk several streets to find someone who has it. Given the odds, why? After all it pays out a tax-free lump sum immediately an insured critical illness is diagnosed.

The usual reason given is its expense. Yes it is more expensive than life insurance but after all it's providing cover for a greater risk. You're much more likely to experience a critical illness than die before your normal retirement age. Indeed, the average age for a claim is 47. So clearly there is much more to the public's resistance.

Not understanding the risks or “head in the sand syndrome” are certainly major factors. After all a lzheimer's disease, bacterial meningitis, brain tumours and leukaemia plus the long list of other illnesses typically covered by critical illness insurance, are not matters we care to think of nor know much about.

Could there be another reason? Well there have been repeated newspaper articles about people who claim on their critical illness policy only to have it turned down on an apparent technicality – the inference being that the insurance company cannot be trusted. Indeed, Standard Life freely admits that it turns down around 20 % of critical illness claims.

The truth is that behind every story of rejection there's a harrowing story of illness, distress and sorrow - and potential copy for the journalist. But that in itself, is not evidence that the insurance company is guilty of devious behaviour.

Yes insurance companies do make mistakes, but more often than not the claim was invalid from the outset. There are two main causes. Firstly, the policyholder is claiming for an illness that is not one of the critical illnesses scheduled in the policy documentation. Regrettable, but it's a fact that if the illness is not listed it isn't insured and the policy won't pay out.

The moral is to closely compare the illnesses covered by competing insurance companies and buy the one with the most extensive coverage of illnesses. If you don't, sods law will prevail …….

The second major reason for refusal is a failure to disclose all relevant matters on the original application form. For example, if the applicant fails to disclose in response to the insurance company's questions that his father a died of a heart attack aged 50 or that he is having medical tests for headaches, then the insurance company will wrongly assess the risks it is being invited to insure. Had the insurance company known this extra information they might have increased the premium, or asked the applicant to go for a medical examination, or waited for the outcome of tests, or even refused to provide cover. By failing to disclose, the applicant has effectively obtained cover on false pretences or at least on inaccurate information.

Thereby lies the second moral. Always provide the truth and the full truth on your application form. Anything remotely relevant to your medical condition must be disclosed.

All this points to the need for professional insurance advice. Critical Illness policies do vary and it can take an experienced eye to evaluate the best policy for your circumstances and pocket. This doesn't mean that you have to miss out on the discounted premiums available online - but do thoroughly talk it through with one of their telephone based advisers and do make sure you read the schedule of claimable illnesses when it arrives in the post.

Then sit back knowing you've taken another important step to protect your family's finances. Lets all hope that you're one of the majority who are happy never to claim.

It's now time to concentrate on enjoying life.

By: Michael Challiner

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Michael Challiner has 15 years experience in financial services marketing at senior level. Michael now works as the editor of Express Life Insurance. Futher reading What is Critical Illness Insurance.

Big Changes On The Horizon For Critical Illness Insurance

In recent years sales of critical illness insurance have flagged. The primary cause is the huge 70% increase in premiums experienced during recent years. For many, critical illness insurance has simply priced itself out of the market.

It's not that critical illness insurance is a bad idea. After all it pays out a lump sum if the policyholder is diagnosed with one of the many critical illnesses listed on the policy and the policyholder survives at least 28 days from diagnosis. (Note: some policies have a 14 day survival period.) Most policies have a huge list of insured illnesses although about 60% of claims are for cancer – not surprising, as 1 in every 3 people will develop cancer sometime in their lifetime. In fact when you look at the concept of Critical illness insurance you can easily make a case that everyone living on earned income should have a policy. It's designed to give you a pot of capital to live on if serious illness prevents you from working normally.

Premiums have increased dramatically because medical advances have meant that many illnesses that proved fatal in the past are becoming quicker to detect and easier to treat. Hence insurance companies have found themselves paying out earlier on claims and on illnesses which are not necessarily debilitating - which was the original purpose of critical illness insurance.

To give you a better idea of the sort of illnesses we're talking about, here's a typical list:

Alzheimer's Disease

Aorta Graft surgery

Bacterial Meningitis

Blindness

Brain Tumour

Cancer

CJD

Coma

Coronary Artery by-pass surgery

Coronary Artery Angioplasty

Deafness

Heart attack

Heart Valve replacement/repair

HIV/AIDS resulting from blood transfusion

Inability to perform your duties of occupation

Kidney failure

Leukaemia

Loss of limbs

Loss of speech

Major organ transplant

Motor Neuron diseases

Multiple Sclerosis

Occupational HIV/AIDS

Paralysis

Paraplegia

Parkinson's disease

Stroke

Third Degree burns

Any illness that results in Total and Permanent disability

Insurance companies have at last realised that they're not going to get anywhere marketing policies that people can't or won't afford, and where the companies can't afford to lower prices. So it now looks as if insurers such as Scottish Widows are considering a break through – splitting the cover so that the prospective policyholder can specify which illnesses he or she wants to insure against. It's a form of “menu pricing” – cover for each illness would have a price and you simply select which illnesses you want to insure against.

Whether such insurance proves popular will very much depend on the cost. For example, if cancer accounts for around 60% of current claims, you'd expect the premium for covering cancer alone to be about 40% cheaper than a full strength critical illness policy. We'll have to wait and see.

If you're interested to find out how much a standard critical illness policy would cost you, you'll find it cheapest on the Internet. The best sites to look out for are the independent discounting brokers who deal with all the big insurance providers. These brokers can search the whole market for you, come up with the cheapest insurer, and discount their price. Try to use a broker who'll also give you personal advice on the phone as some policies do vary in the scope of their cover.

By: Michael Challiner -

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Michael writes for Scrouge Life Insurance who offer life insurance quotes and critical illness insurance. Click here for more life insurance topics

Why Take A Critical Illness Insurance Policy Cover?

Before we answer the question as to why we need a critical illness insurance policy cover, let’s first find out what exactly is critical illness insurance. It is a policy that helps the insured in affording the medical treatment for a life threatening disease.

Medical advancements have achieved great milestones, and today we can proudly say that we have conquered many dreaded diseases by finding out their treatments. But, on the other hand, the cost of getting treated has also increased astronomically. People at times do not survive diseases just because they are unable to bear the cost of the treatment. The critical illness policy comes to the aid of the person when he requires it the most.

Unlike other medical insurance and other policies that pay a person after an unpleasant incident has occurred, the critical illness policy provides financial support to the insured. The best part is that the insured is paid a lump sum on being diagnosed with a serious ailment, so that he is in a position to afford the expensive medical treatment and can successfully recover with the post medical medication and care. The huge medical bills become seemingly easy to tackle, and the insured does not have to dig deep into his savings and other financial resources.

The critical illness policy is very flexible in terms of the payments. The payments are unrestricted, and the insured can put the money to any use. He may use the lump sum amount either fully or partially towards his treatment and subsequent rehabilitation.

The only catch in this policy is that the person covered under the critical illness policy has to survive a 30 day period, called the 'survival period' in order to claim the insurance money. In case the insured does not survive the 30 day period, his beneficiaries will still be entitled to his life insurance policy.

By: Darlene Kaitlin

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The author is associated with UK’s leading healthcare and medical insurance broker, Essential Health Ltd, which provides medical benefits, to its clients in UK and around the world, for Cancer, Medical insurance, Critical illness, Travel insurance, Dental insurance, Financial protection, Life, Term Assurance, Accident Insurance, Healthcare, Health insurance and even Sickness insurance

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Critical Illness And Terminal Illness Are Nothing Of The Same - Know What Your Asking For

First off, just to clear up, critical illness cover is not life insurance, life insurance will not pay out upon the incidence of a critical illness. Also, Terminal illness, is usually included in the policy and is completely different from Critical illness also, i.e. Critical & Terminal Cover are definitely not the same.

Critical illness cover is a much more wide-ranging level of cover and statistics show that 1 in 5 men plus 1 in 6 women will usually endure a critical illness before the retirement stage of their lives.

Terminal illness cover cannot be sold as a single policy, but always in combination with another policy, usually than being life insurance or even within a critical illness policy. Individuals can claim under Terminal illness cover if they are diagnosed with an illness by which a GP confirms that you are expected to die within 12 months.

A simple example would be to consider that, if you had a heart attack or lost your sight in some way, you are still able to live for years, thus, your life expectancy couldn’t essentially be predicted. So whilst you may have to give up your daily occupation, you could not claim under your life insurance and terminal illness policy. This is where critical illness cover comes to pass. As you are expected to live longer than 12 months, critical illness and life insurance will cover you for years on end. It pays out a great lump sum instantaneously after you are diagnosed with one of the long list of critical illnesses that are covered such as cancer, multiple sclerosis, chronic illness and heart attacks et cetera.

Finding the best critical illness life cover;

The fee of critical illness can vary dramatically between the insurer and certain factors around the condition of the insured individual. So its vital to compare prices for cover and critical illness, but also, critical illness life cover can be very complicated at best, so adequate research, patience is required to enable a sound choice.

Conversley, having the Internet available enables you to do the most of the work at the leisure of your own home and brokers online have chosen businesses like ClickLife to provide a price and policy comparison service.

ClickLife will do the majority of the work for you by automatically contacting their panel of top UK insurers to ascertain the best possible quotes from which then they will phone you to present and compare the quotes.

Top Tips with reference to picking life insurance and critical illness;

1. You can join your life insurance policy with a critical illness policy for potentially no extra cost, thus meaning that you are actually getting the extra life cover at no extra charge.

2. Getting two separate policies’ rather than a joint policy may work out slightly more costly, however, if a member (e.g. husband) gets a critical illness and the policy is joint, the policy automatically terminates leaving the other (wife) uninsured.

3. By increasing the cover of your critical illness and life insurance, you could also get your mortgage covered, which offers a whole new level of financial safety.

4. If you have received a critical illness life quote that has worked out to expensive, ask for a quote to be tailored to your budget.

There you have it, straightforward information clearing up some simple false impressions about insurance and critical illness insurance cover.

By: Peter Goligher

Article Directory: http://www.articledashboard.com

Peter Goligher is founder of www.criticalillnessandlifeinsurance.com/Assurance-vs-Insurance.html and critical illness life cover

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All About Critical Illness Insurance By Insurance Experts

2009-08-05T00:04:00.000-07:00

Is Critical Illness Insurance Actually That Vital?

It is a very common fact that the odds of developing a critical illness are relatively high. The statistics show that there is a 1 in 5 chance for men and 1 in 6 chance for women that a critical illness will inhibit them from working. Now, critical illness life cover will not alter the fact that you can contract an illness, however, it can simply take away the other potential problems, which are likely to occur such as mortgage repayments et cetera.

The bulk of people will have a life insurance policy, some people will claim they have the paramount; most comprehensive and expensive policy there is accessable from the market place, with full terminal illness cover included. That is all good and fine, but none of this will include a critical illness problem. This is where most people fall, as they minimally do not know the difference. A terminal illness policy is whenever your GP lets you know that you have a maximum of 12 months to live, whilst a critical illness policy can last years without a prediction on your life expectancy such as blindness, deafness or heart attacks et cetera.

However, its not only the bewilderment why many people don’t have a critical illness policy, other reasons include the rate of critical illness life cover premiums. Yes it is more expensive, but it’s a not rocket science that there is a much higher chance of you contracting an illness than dying before retirement age. On the other hand, considering combing you critical illness and life insurance policies will work out cheaper, in fact sometimes it can be that much cheaper, the life insurance fragment is almost completely free.

One of the most important factors in my belief is that many insurance companies turn critical illness claims. Such companies include Standard Life who openly admits that they turn down approximately 20% of all claims. This is aspect is easy to understand and it would make anyone sceptical about wasting money that may never be put to use.

Not all guilt is on the insurance company nevertheless, a lot of the problems are simply reading, rushing and taking for granted errors. Just because one purchases a critical illness policy doesn’t mean that they are covered for all illnesses. Different insurance companies cover different illnesses, and its up to you to know which ones.

Another problem is basic disclosure of all necessary elements within the application form. A very basic example would be to mentioning that you smoke. If you have a heart attack, this could have been influenced by your smoking way of life. The insurance company would have accessed this risk and might have put your premiums up. You could also look at it as if you were committing a type of fraud to save money, like trying to avoid the taxman for instance.

So to conclude, don’t bother leaving out any particulars and don’t forget to reads the insurance book terms and conditions. It is not such a difficult process do to, and im sure many people regret not doing it.

By: Peter Goligher

Article Directory: http://www.articledashboard.com

Critical illness and life insurance is highly recommended. For full details, visit www.criticalillnessandlifeinsurance.com/Term-life-vs-Whole-life.html

Heart Attacks Top Critical Illness Insurance Claims

Critical illness insurance is getting to the heart of the matter for many people these days--quite literally. According to a review by Colonial Life & Accident Insurance Company, heart attacks are by far the top reason for claims on critical illness policies.

Of all the critical illness claims Colonial paid in an 18-month period from Jan. 1, 2005 through June 30, 2006, 40 percent were for a heart illness categorized as a heart attack. Critical illnesses resulting in a paid claim include:

The likelihood of suffering a critical illness is surprisingly high. The American Heart Association says one in three adults have some form of cardiovascular disease (Heart Disease and Stroke Statistics, 2006 Update). In addition, the lifetime risk of cancer is one in three for women, one in two for men, according to the American Cancer Society (Cancer Facts & Figures 2006).

When these patients are in their prime earning years with young families to care for, it creates an extra financial burden on top of treatment costs.

"Survival rates for heart attacks, strokes, cancer and other critical illnesses are increasing every year," says Monica Francis, Colonial's assistant vice president of product marketing. "But the financial strain of treating these illnesses can be overwhelming to a family. No matter how good your major medical plan is, you're likely to face significant out-of-pocket expenses."

Critical illness insurance helps pay the expenses associated with major illnesses such as heart attacks, strokes, organ transplants, end-stage renal failure and coronary artery bypass surgery. Policies such as Colonial's pay a lump sum benefit upon diagnosis of a covered illness, no matter what other insurance the policyholder may have.

Benefits are paid directly to the policyholder to use as needed. Expenses typically not covered by major medical plans include transportation to treatment centers, lodging and meals for family members accompanying the patient, child care, home maintenance or modifications to make the home more accessible, in addition to deductibles and co-payments.

By: Stacey Moore

Article Directory: http://www.articledashboard.com

To learn more about critical illness insurance and policies, visit www.coloniallife.com. Critical illness insurance can help protect families from the out-of-pocket expenses associated with major illness.

A Glance At The History Of Critical Illness Insurance

Critical illness insurance was firstly created in South Africa in the year 1983. It was generally known as dread disease insurance. Critical illness insurance was then brought to UK in the year 1985. The first policy was then introduced by Lloyds Life now member of Royal and Sun Alliance.

They attempted to sell the product through public press advertisements which led to unfortunately less than 100 policies sold. In the year 1986, Cannon, now Lincoln tried to have a shot at critical illness insurance. Their success was not immense. It was Abbey Life that had a taste at success with critical illness insurance. With the introduction of ‘Living Assurance’ it took only months for the business to have a new perspective.

The initial product aimed at severe critical illnesses. These illnesses could be classified as cancer, coronary artery bypass, stroke, heart attack, kidney failure and major organ transplant. This type of policy was sold by direct sales companies or agents. Soon, other companies developed the same attitude. But a specific name to define this type of policy was not yet given. Serious Illness Benefit, Dread Disease and Crisis Cover were used generally before coming to Critical illness cover.

Moreover, critical illness insurance was slow at reaching the top level in the UK until the Direct Sales Force (DSF) took over. They achieved immense success as they discovered the market potential and their want for critical illness cover in the late 1980’s. Shortly other companies followed the same trend in 1990/91 and since then, critical illness policy sales have boosted. According to Swiss Re Life and Health Watch 5, sales of critical illness policies have increased from 150,000 in the year 1992 to approximately 900,000 in the year 2001.

As per Dinani A, Grimshaw D and others (March 2000) “A Critical Review”, in the year 1999 more than 800,000 life critical illness policies were bought, representing almost 38 percent of overall policy sales. Furthermore, around 50,000 lives were covered under group critical illness schemes which therefore represent about 10 percent of the working population. Although the growth in sales had been considerable, the peak had not yet been reached. Thus, the probability for further expansion remained.

Being a new type of policy at that time, critical illness cover sales had surpassed that of income protection. The reason behind was that critical illness policies were well defined with listed illnesses that could be positively looked by customers. Maybe it was the lump sum someone received on making a claim that had more importance for people than getting an income benefit.

As seen above, there has been a considerable increase in critical illness policy since it appeared. People have seen the benefits in critical illness insurance. The lump sum has probably attracted many people towards taking a critical illness cover. Critical illness policies with low costs exist but they may not always offer benefits that you have thought about. The bottom line remains that before taking out a critical illness cover, you should read the policy documents carefully before making an agreement.

By: Mike Armstrong

Article Directory: http://www.articledashboard.com

For more information about life insurance and critical illness insurance please visit www.unbeatablelifeandcriticalinsurance.co.uk.

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All About Critical Illness Insurance By Insurance Experts

2009-08-04T23:41:00.000-07:00

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Critical Illness Insurance Is Critical

A difficult time in life can teach you what's really important. Just ask anyone whose life took a sharp turn when a medical problem was discovered.

First off there are expenses, a difficulty for any family but which are a special challenge for any family who are covered by a limited medical insurance policy or have no insurance at all.

If you have limited medical insurance, there is sometimes just not enough to pay the bills. You could have costs of staying near a clinic while hoping and praying that you will get well.

Some people have family members and friends who have started get well funds to help pay expsenses. But all of this doesn't answer why there was no critical illness insurance.

This Is Why Critical Illness Insurance Is Important

Critical illness insurance is important as what you are doing is insuring your income , just like you insure your house. You wouldn't own a house without insurance, so why do you walk around without insurance against a personal catastrophe? You'll never know anything about expenses until you confront expenses caused by a major illness! From no income coming in to all the savings going out, families can be left in a great bind. Now that you've bothered to read this article, call your life insurance broker who sells critical illness insurance and get to know the difficulties you may face. And more positively, how you can solve them.

By: Ivon T. Hughes

Article Directory: http://www.articledashboard.com

Ivon T. Hughes of The Hughes Trustco Group is a licensed Insurance Broker. Author of The Life Insurance Handbook. - Get a FREE Copy TODAY! Email: info@trustco.ca Web: www.hughestrustco.com

Are You Suffering From Payment Protection Overload?

Critical illness insurance:Critical illness insurance will cover you in the event of a serious illness such as cancer, coronary artery by-pass surgery, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke. Additional conditions covered by this insurance can include aorta graft surgery, benign brain tumour, blindness, coma, deafness, heart valve replacement or repair, loss of limbs, loss of speech, motor neurone disease, paralysis/paraplegia, Parkinson’s disease, terminal illness and third degree burns. Not all insurance companies will necessarily cover all of these illnesses, whilst some insurance companies will cover more; it is always worth reading the terms and conditions before you sign anything.Critical illness insurance policies typically offer a tax-free lump sum if you are diagnosed with one of the above illnesses and meet the conditions outlined in the policy contract. The lump sum is most often used to cover the remainder of the mortgage, although can be spent on home alterations or medical care etc.Life insurance:Life insurance is usually taken out if your family or partner is financially dependent on your income. Life insurance can also be purchased as life assurance and in this form, can offer a method of protection cover and savings. However, most people simply use it as a form of financial protection for their mortgage and therefore their family. There are three main types of life insurance: term insurance, whole life insurance and endowment insurance. More information can be found on these forms of life insurance on the Association of British Insurers’ website, listed in the resources section of this article.Mortgage life insurance:Mortgage life insurance is essentially the same as a decreasing (lump-sum) term life insurance policy and is designed to pay out a lump sum upon the death of the policy holder, should it occur during the term of the mortgage. The size of the lump sum will decrease over the term of the life insurance policy, in the line with the outstanding mortgage repayments. E.g. As you pay off your mortgage, the amount of cover will decrease as the need is less significant.Mortgage protection:Mortgage protection, also called mortgage payment protection, is a type of insurance that can help protect mortgage payments and associated household costs in the event of unemployment, illness or an accident. Through mortgage payment protection, you can insure your monthly mortgage payment, monthly life premiums and the monthly cost of your buildings and content insurance. Typical mortgage protection cover could include:* Unemployment and disability insurance cover* Accident or sickness* Unemployment only insurance cover* Disability only insurance coverLoan payment protection:Loan payment protection policies are designed to protect the repayments to any loans you may have taken out. They work on a similar basis to mortgage payment protection, but for a wider scope of borrowing. Premiums for loan payment may be greater than those for mortgage protection.Income protection:In the event of unemployment, sickness or an accident, income protection insurance offers a limited income. Do make sure you understand the terms of the policy however, as the income that you received through cover may be significantly less than the income you receive through employment.Private medical insurance:Private medical insurance is a policy which will provide financial cover for medical treatment in the event of an acute condition. According to the Association of British Insurers, the majority of insurers define an acute condition as “a disease, illness or injury that is likely to respond quickly to treatment which aims to return you to the state of health you were in, immediately before suffering the disease, illness or injury, or which leads to your full recovery.”Private medical insurance provides reassurance for people who know that treatment is available promptly should they become ill or injured.Resources:http://www.abi.org.uk/ The Association of British Insurershttp://www.moneynet.co.uk/insurance/index.shtml Consumer Insurance Comparison Researchhttp://www.moneynet.co.uk/home-car-travel-insurance-guide/index.shtml Insurance Guide

By: Rachel Lane

Article Directory: http://www.articledashboard.com

Rachel writes for the personal finance blog Cashzilla – personalfinanosaurus – licensed to roar. Rachel spends her not-so-free time researching and writing personal finance articles, but she gets through it with Smarties and Fruit Pastilles. To read more about Rachel and Cashzilla visit www.cashzilla.co.uk

Health Tips For Men

Recent research has shown that many men are failing to take adequate steps to look after their health or protect themselves financially in the future, should they experience health problems.

This article will look at some small steps men can take to better protect themselves physically and financially.

Research has shown that although a lot of men (30%) say they are concerned about their health and 27% actually worry about their health, they are still taking significant risks by ignoring symptoms of ill health, not carrying out health checks

For example, a massive 77% of men said they have ignored physical symptoms of ill health in the past year, while almost half (44%) don’t check themselves regularly for signs of cancer.
Over half (52%) of men have also ignored a letter urging them to attend a medical check-up in the past year and in the same time frame only one third (32%) attended a regular check-up or test.

Additionally, the survey showed that a high percentage of men don’t have critical illness cover or other protection such as health insurance to cover them should they become ill.

Here are a just a few small steps you can take to greatly improve your overall health:

Eat smart

Try to eat at least five portions of fruit and vegetables a day as part of a balanced diet. This will keep your energy levels up and stop you reaching for sugary, fatty and salty snacks. It will also help you maintain your weight at a healthy level.

Alcohol aware

Drink in moderation. Aim to stay within the guidelines for health of no more than three or four units of alcohol per day. Try to have at least two alcohol-free days per week too.

Up the exercise

Try and take at least 20 minutes of exercise three times per week. Do exercise that you enjoy so that it becomes a fun part of your routine rather than a chore. Looking into doing exercise with friends too so it becomes social, as well as good for your health.

Health checks

Don’t ignore symptoms of ill health or injury – if you think something could be wrong, see a doctor as soon as possible. Better safe than sorry. Additionally, learn how to check yourself for signs of illnesses such as breast and testicular cancer. It takes minutes and saves lives.

Protect your future

Consider investing in private health insurance and critical illness insurance to provide you with access to fast treatment and peace of mind. With private health insurance and critical illness cover, you know that if you do become ill, you’ll be back at work as quickly as possible and your income will be protected.

Men are more likely than women to ignore medical problems and take more risks with their health. It isn’t worth the risk, though, and with just a few small changes you could ensure that you are happier and healthier in the long-term.

By: Sarah Cornish

Article Directory: http://www.articledashboard.com

S. Cornish: Patient Choice

Patient Choice is a medical organisation providing easy-to-understand, cost-effective private health plans for individuals and businesses. For more information visit the Patient Choice website

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