Critical illness insurance provides you with a lump sum of money if you are diagnosed with certain illnesses or disabilities.
The kinds of illnesses that are covered are usually long-term and very serious conditions such as a heart attack or stroke, loss of arms or legs, or diseases like cancer, multiple sclerosis, Parkinson’s disease and many other illnesses and diseases.
If being ill has left you out of pocket, it can be really handy to have a large sum of money to spend on things like everyday expenses, paying off your mortgage or your medical expenses. You can use the money in any way you like, you don’t have to spend it on anything in particular.
There are many providers that offer critical illness policies on the market, at Allstarutilities we will make sure you will have help choosing the most suitable insurance policy for you.
No one likes paying for something they don’t get to use, however ask your self this. In a scenario where something was to happened and unfortunately you have become a victim of an illness or a disease, would you rather receive a lump sum of money and/or get to be treated at the most recognized hospitals in the world? Or would you rather use your hard earned money and/or savings in order to help you get better and cover your financial commitments?
In order to make a smart decision regarding the type of policy and provider that’s best for you, you must first understand what a critical illness insurance policy is and what you need it for.
It is here that our team of professionals can be of help.
Please use our contact form for more advice and information.
An average appointment lasts between 60 to 90 minutes and you only have to do this once.
Getting the right advice makes things a lot easier, a qualified advisor will help you to choose the protection for you & your loved ones.
There are various types of polices to choose from however the younger you ll do it, the cheaper it will be.
Your cover will be based on how long you want your policy to last, and how much you want to pay each month.
You’ll probably want to make sure that you have cover in place for as long as you still have significant demands on your income, such as an outstanding mortgage or children’s education fees.
Do not worry there is few other important aspects to consider when buying an insurance policy, that’s exactly what we are here for.
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Premium rates are typically based on factors such as age, gender, height, weight, health status (including whether or not you use tobacco), and if you participate in high-risk activities or occupations.
It might be worth considering a new policy if you have any significant changes in your life circumstances, such as if you:
Most policies have a 31-day grace period wherein you can pay the premium with no penalty or interest. If you have a term policy and do not make the payment within this grace period, the insurance company will usually terminate the policy.
In most case scenarios the answer is yes, depending on a selected provider your health condition may be removed from the policy and your monthly premium could go up however you would still be insured against any other conditions the policy includes.
The underwriting process is a method through which carriers assess your risk based on the medical questionnaire answers on the application, and databases search results to conclude whether or not to approve, deny, or rate up a critical illness insurance policy.