The need for Critical Illness cover

The need for critical illness cover can be seen from the results of a recent World Health Organisation study. The 4 main risk factors are all part of daily life and whilst we can control them to some extent, it is very likely that we or someone we know will suffer from one of the major critical illness at some point in our life.

Whilst we have the choice to rely on our medical aid or state facility for treatment, there is a very real chance that the benefits they provide will not be sufficient to treat your condition, leaving you facing a major financial crisis. This is where Critical Illness cover can come to you aid.

The critical illness cover available today is designed to make a payment to you upon diagnosis of a qualifying claim event. The various product providers differ in the level of cover that they offer so it is important to choose the most comprehensive cover that you can afford.

You also need to consider how they pay for a claim. Some companies will make a lump sum payout whilst others make a payment based on the severity of the illness claimed for. Consulting with an accredited adviser will enable you to make a fully informed decision on the cover that is right for you.

Critical illness cover will provide you with cover in the event of cancer, stroke, heart attacks etc, all of which you can recover from, but it is the financial impact of these events that may not be so easy to recover from. Loss of income can be devastating so having critical illness cover is a vital part of your financial plan.

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