When you are young fit and healthy, it is hard to plan for the day when that might not be, but critical illness insurance is something that we all need to make provision for. Providing financial peace of mind for your family by taking out protection for a mere few dollars each week, does not seem as important to most of us as having that luxury cup of coffee every day during lunch.
Research has shown that planning for critical illness is a wise move as statistically the chance of this happening is actually high, so much so that insurance providers now offer this type of policy quite routinely.
Research has shown that men are more likely to contract a serious condition than women with a figure of twenty percent before the age of 65. Women fair a little better with around 15 percent being diagnosed prior to retirement.
Lack of knowledge or belief in the chances of contracting an illness like this might be the main reason why so few adults take out critical illness insurance protection, according to insurance companies. This type of policy is designed to protect those around you who you love but the primary reason why people organize critical illness cover is to ensure mortgage repayments do not lapse.
Since the advent of the Internet as a marketing and sales tool, insurance companies have promoted their products online and in recent years there has been an increase in online insurance applications. In a rush to provide this type of health coverage, many details are not looked into fully and a number of problems have arisen from attempting to do this online. Not surprisingly, insurance providers often require the applicant to undergo a routine examination to clear up any possible existing complaints right from the outset. A common complaint of insurance companies is that they are often insensitive to the plight of their customers and this is not the attitude you want if you are contacting them about your critical illness insurance policy.
Smokers are unfortunately treated as higher risk applicants; this includes anyone who has smoked within the previous year, and as a consequence they are placed in a high risk category. While smoking is considered a serious risk to a person's health, there are other considerations that are taken into account; for instance the work or pastime may be dangerous, you may be in poor health generally or age may be against you.
A major advantage of critical health insurance which is often overlooked is the financial help it provides for people diagnosed with a terminal illness. Anyone that cares about their family and what could happen to them in the event of a serious medical condition arising should take out this type of insurance if for no other reason than peace of mind.
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