Things to Bear in Mind While Choosing Your Insurance
Article published on 16th July 2008
So you're looking for a critical illness insurance (CII) policy. What should you look out for...?
Here are a few tips:
- All insurance companies should give you a 'key features document' upon request. This document tells you all the most salient pieces of information about the policy in question, including cost and what ailments and conditions are covered by the policy and which are not. This is a useful tool to compare policy content from different insurers.
- It's generally best to look for a policy that offers to pay out if you cannot work at your own occupation, not ANY occupation. Chances are if you can't continue designing quantum computers because of some ailment or other, you might still be able to work as a street sweeper, so your insurer might not pay out. Sneaky I know.
- Be wary of small print. Read it all thoroughly. If there is any part of the policy you are buying that you are not completely aware of, don't buy it. Take nothing on faith or hope.
- Look out for fixed or variable premium. Fixed premiums are a bit more expensive to start with but do not increase over time. Variable premiums can be increased by your insurer every so often after a review.
To speak to a Critical Illness Specialist about a Critical Illness Policy, either call us on 01723 516 600 or request a Critical Illness Insurance Quotation using the link below and arrange a callback.
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