How Much Cover Should I Have?

Many people ask the question "How Much Critical Illness Insurance Cover Should I Have?". Here we try to answer the question - How Much Cover Should I Have

Keyman Insurance

Hopefully the economy is starting to pick up. We can already see a raft of new businesses starting up that may well become the leading brands and companies of the future. These startup companies, like many established companies, will be heavily reliant on the contributions of its key personnel. Keyman or key person insurance provides a lump sum benefit, payable to the business, should one of these key people die or be struck by a specified critical illness. This lump sum can then be used by the business in a number of ways. Read more at Keyman Insurance

Critical Illnesses Afftecting Younger People

Critical illnesses are affecting more and more younger people according to recnt research published by the American Association for Critical Illness Insurance. Read More

Most Families Have No Financial Protection

New research from Scottish Widows shows that 75% of families have no form of financial protection including critical illness insurance. The research shows that protection sales are continuing to decline.

Coming Soon - Critical Illness Isurance Glossary

By popular demand, we are about to add a glossary of Critical Illness Insurance terms to help visitors better understand the product.

Check back here in a few days!

Friends Life Reduce Critical Illness Insurance Costs

Friends Life have announced reductions to Critical Illness Insurance where the sum assured is £30,000 or over.

Why Are Prices So Different?

The price of Critical Illness Insurance can vary wildly from one Insurer to another. Sometimes the premiums from one insurer can be double the premiums of another. So why is this?

James Doyle from Simply Critical explains these differences in Critical Illness Insurance.

Legal & General Critical Illness Insurance Claims Stats

Legal & General are the latest of the UK insurers to release their Critical Illness Insurance claims statistics for 2011.

The statistics show that an impressive 93.2% of claims were paid during 2011.

Read More

Critical Illness Guide from the Citizens Advice Bureau

The Citizens Advice Bureau have launched a fantastic guide on their website. The guide details really useful information about Critical Illness Insurance, including how cover should cost, where to get it from and ultimately who needs the cover.

Great work from the Bureau!

Read More and access the guide at Critical Illness Insurance

Aviva Critical Illness 2011 Claims Statistics

Statistics released from Aviva this week are a further shot in the arm for The Critical Illness market. The stats show that more than £114m was paid out in claims last year. This equates to more than 94% of all claims being paid. Read more

Ceitical Illness Insurance Premiums set to Rise

Critical Illness Insurance Premiums could rise by 30% according to a recent article in the Telegraph. Read More

Scottish Provident Critical Illness Insurance Statistics

Scottish Provident have released their claims statistics for 2011 which show that more than £90m was paid out in claims. Read More

Costs of Critical Illness Insurance

I'm interested in your thoughts. Do you think the costs of Critical Illness Insurance will rise or fall over the next 10 years?

Critical Illness Insurance Forum

I've launched a forum that anyone can post on. Feel free to ask a critical illness insurance question or comment on the site. The link is below.

http://amazingforums.com/forum3/JUSTCIC/forum.html

Critical Illness Insurance Complaints Rising

Recent figures from the Financial Ombudsman Service show that complaints about Critical Illness Insurance increased during the last 6 months of 2011.

Within the figures it's no surprise to see that the biggest culprits for complaints are the large banks. Yet again Lloyd's Banking Group received the most complaints referred to the Ombudsman during the period across all areas.

Critical Illness Insurance FAQs

Check out our new FAQ section, covering frequently asked questions about Critical Illness Insurance products and issues.

How to Make a Critical Illness Insurance Claim

To make a claim on your Critical Illness Insurance you need to contact the Claims Department of the insurer that you took out your policy with. For help on making a claim, visit our page page. We offer free help and support if you need to make a claim on your Critical Illness Insurance.

Renewable Critical Illness Insurance

If you think you might want further Critical Illness Cover once your policy term expires, you might want to include a Renewable Option. This option provides you with a guarantee that the insurer will provide further cover without medical underwriting. This usually attracts an increased monthly cost.

Cheap and Cheerful?

Is the cheapest Critical Illness Insurance Quote always the best one?

The simple answer is, no!

Critical Illness Insurance is very different to Life Cover. With Life Insurance generally price is the single most important factor most people consider when comparing providers. With Critical Illness cover the policies provided by each insurer can vary wildly.

If you are looking for the policy that covers against the most illnesses, this may well not be the cheapest.

Make sure you check the cover thoroughly before purchasing.

Are Benefits Taxed?

For most people the claim proceeds from a Critical Illness Insurance contract are paid tax free.  The payment is received as a tax free lump sum and they are free to spend the proceeds however they chose.

The monies could be used to reduce debt, such as a mortgage or credit cards, or may be used to make alterations to the home to aid mobility.  Some people use the proceeds to buy a car or go on holiday, or simply leave the money in the bank.  The choice is yours.

Big Action Needed

It still amazes me, after all the years that I have been involved in this industry, we are still not tackling the heart of the issue, Critical Illness will still occur in the western world, at ever alarming rates because our Governments don't have the will to do what's needed.

Governments could and should ban the sale of cigarettes.  Here in the UK packaging of cigarettes is covered with graphically portrayed warnings that "Smoking Causes Cancer" yet we still allow them to be sold.  It's crazy beyond belief.  Ok, I appreciate that governments enjoy the tax revenues attached to cigarette sales and that people continually criticize the so called "Nanny State" but surely cigarettes should be banned.

If we try and look forward a couple of hundred years, imagining a Star Trek style future for the human race, do we think people will still be smoking and the cigarettes will be legal?  I think many people, me certainly included, would guess no.  So, is it only a matter of time before they are banned?  I certainly hope so!

Remember, these are just my opinions.  As they say at McDonalds, Make Up Your Mind!

Why do I need Critical Illness Insurance

People take out Critical Illness Insurance for lots of different reasons. It might be that you want the comfort that your mortgage would be paid off in the event of suffering a critical illness, or it might be to pay for modifications to your home.

Critical Illness Insurance pays out a lump sum in the event of you suffering a critical illness covered under your policy. You're free to spend the benefit on whatever you want, but repayment of debt is usually the first thing on the agenda.

Consider, what would you do, how would you cope, if you suffered a suffered a critical illness?

Changing Banks

Remember, if you change your bank account you need to Akers sure that your direct debits follow to your new bank. If your direct debit for your Critical Illness Insurance is missed and your payments don't reach your Critical Illness Insurance provider, they may cancel your policy meaning that any claim would be erected. Read more critical illness inurance comments

Do Your Research!

It's really, really important to understand what illnesses are covered under the Critical Illness Insurance policies that you are looking at.

Many people assume that all Critical Illness Insurance contracts cover the same illnesses and that providers are generally the same, this simply isn't the case! Whilst most insurers cover more 20 illnesses some cover less than 10, and one insurer just covers 1 illness!

When you are comparing Critical Illness Insurance quotes from different providers keep this in mind, it's not just about the quoted cost.

Read more at www.critical-illness-insurance-quotes.co.uk