What types of Critical Illness and Health Insurance are available?
Health Insurance and Critical illness Policies can be bought separately and are regularly used to cover a mortgage; the cost is usually small in relation to the main mortgage payment.
Additional personal critical illness cover can offer extra peace of mind for you and your dependants (as ‘additions’ and/ or ‘extra’s’), for a minimal increase of your premium.
Although policies vary from company to company, critical illness insurance typically pays a lump sum to someone who suffers a specified critical illness or injury, whereas Health Insurance covers the cost of treatment, hospital treatment and consequent care.
If you are a frequent player of contact sports such as hockey, rugby, basketball, football and other sports, then it is important that you take the appropriate protection to take care of your health. Otherwise it is very easy to injure your back, neck, legs, arms, or head whilst playing physical sports. This can leave you unable to play again for a very long time, and in the most extreme cases can leave you in a wheelchair for the rest of your life. Click here for bandages and tapes to both protect you whilst playing sport, and to support any injuries you may sustain thus helping you to recover.
There are two main types of Critical Illness insurance:
Stand Alone Critical Illness pays out on diagnosis of critical illness but requires that the sufferer survives for a certain time after the event, typically 14 or 28 days.
Combined Life and Critical Illness pays out on diagnosis of critical illness or death. There is usually no requirement to survive.
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