Critical Illness Insurance

Critical illness insurance pays a lump sum to the policyholder if they are diagnosed with a fatal illness such as cancer or heart disease. And yet, financial reports suggest there has been a drop in critical illness life insurance cover. One of the reasons some experts believe the number of people taking out critical illness life insurance has dropped is because of a fear claims will be rejected. There have been some high profile stories in the media where people suffering from breast cancer for instance had their claim refused for failing to disclose full medical records.

It’s vital you have critical illness insurance – firstly, to protect your family and secondly, if you are battling with a disease, you don’t want to waste your energy over fears about money or debt. To allay fears of refused claims, you just need to take some simple steps. When you take out critical illness life insurance make sure:
# You disclose all medical history, no matter how trivial it might seem
# Ensure your information is truthful with all relevant medical problems disclosed

Insurance companies now produce a Statement of Best Practice that outlines medical definitions to improve clarity for consumers on what claims they will be able to make in the event of a diagnosis. A serious illness affects one in four women and one in five men before they reach retirement. Critical illness life insurance can at least give you financial peace of mind.

Jump Money are specialists in life insurance and are there to answer any questions you may have related to life insurance, life assurance, term insurance and life cover. They will strive to fit an insurance package to the exact criteria you need in order to help you avoid buying products you do not need as well as helping you fully understand your purchase.