Everyone 'should consider critical illness cover'

By Marianne Straker, Fri 9 Apr 2010 - Published in Life Insurance

Critical illness cover is one of the most important forms of insurance people can hold, an expert has suggested.

Nick Kirwan, assistant director of health and protection insurance at the Association of British Insurers, said the cover would be useful for most people, but especially so for those who are of working age or have responsibilities.

"Critical illness insurance is very important because there is no other product that can do what it does by paying people a lump sum on the diagnosis of a serious illness," he explained.

Mr Kirwan said that people can take comfort from the policy as they know if they are struck by a severe illness, such as cancer or a heart attack, they can focus on getting well and not worry about their financial commitments.

Earlier this year, Equity Partners managing director Kevin Tooze pointed out that people can reduce the cost of their life insurance by avoiding bad habits such as smoking or drinking heavily and pursuing healthy activities such as sports.

News Categories

News Archive

News: Everyone 'should consider critical illness cover'