Critical illness pays out if you get seriously ill.

It is a sad fact that even if we live a healthy lifestyle, as we get older we are more prone to sickness; fortunately, the benefits of critical illness insurance are being experienced by many people who have seen this make a big difference just when they needed it. 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. Unfortunately, despite longer lives, we are not generally healthier and insurance providers now routinely offer cover in their policies as there is a reasonably high probability of contracting a serious condition.

These studies make for somber reading when you consider around one in five men will contract one of these conditions before they reach retirement age. This figure reduces, but only slightly, for women with around 15 percent having a severe health condition before 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. Those that take out critical illness cover normally do so to help pay their mortgage repayments if they are no longer able, but this type of plan can now be added directly to mortgage repayments.

Increasingly, the internet is being used to buy insurances online and this is now extending to illnesses that are long term or critical. Unfortunately, being a relatively new facility, there are new problems that occur as more companies start offering services over the Internet for the first time. This is because many insurance providers who offer this type of coverage wish to have the applicant take a medical examination by an independent physician to ensure there is nothing untoward right from the start. 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. Smoking is a potential threat to your life therefore, premiums will increase although having said this, the insurance company will also consider your age, type of work you do, general health, and pastimes before it issues the cover. One of the biggest benefits of critical illness insurance is it will also cover the health and living expenses should a person be 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.