Life and Critical Illness Cover

Can you imagine a situation where you have to stay out of work or become redundant if you come down with any critical illness? As a matter of fact, what is the accepted definition to a critical illness?
And lastly, how then can you help yourself in these trying times?
These and several more are critical questions one would bet to ask to save oneself the challenge of not being presented with a viable option in case one comes down with a critical illness.

You would agree with me that for one sure thing, you cannot work in times of critical illness, the best an employer would do after been rendered redundant is to give you your gratuities or benefits which might not be sufficient to cover your treatment expenses.  Then how then can you make more money to pay for the cost of treatments when you become redundant out of work?

The Critical illness cover is a special type of policy that was put in place to cater for these difficult times, it has a lot of sides to it but basically it involves the insurer having to pay for one’s cost of treatment, surgical operation and medications. It comes in different forms; some might receive a lump sum from the insurance cover for the cost of treatment so that they can carry themselves through the period of treatment financially.  To have two benefits under one policy, the Life and critical illness cover came up in order to provide a cover in case of death and also another cover if the insured comes down with a critical illness before death. There are different ways to the combination of both the term life cover and the critical illness cover; you could have a single policy where a lump sum is paid after a claim is made for whichever of the two that happens first- critical illness or death. After the first claim the policy becomes terminated. You can only have one pay out by the insurer and whichever one comes first, then you are good to go! You could also have a situation where a pre-determined sum would have been established for both critical illness and death and in this case, you can always expect the premium to be higher. It is advisable to go through the terms of the policy especially for the critical illness cover aspect before you stake out for the policy because there are several exclusions for critical illness cover as there are varying critical diseases and the insurer might not be able to provide cover for certain types of illness as such necessitating adept understanding by the policy holder.
Features of Life and Critical illness Cover
The first step after application for the policy, acceptance by the insurer is diagnosis by a specialist doctor in that field.
There are standard definitions of critical diseases that are covered and these include the following conditions:
o Cancer,
o heart attack
o coronary artery by-pass surgery
o kidney failure
o major organ transplant
These conditions would always be covered under any critical illness policy of any form, additionally there are other conditions and this need be stated specifically under the policy for the insurer to be liable. Examples include brain tumor, aortic surgery, blindness, deafness, Parkinson’s disease, paraplegia, multiple scleral infections, Alzheimer’s disease, severe burns and a host of other critical diseases.Your cover could be for a particular condition or illness or it could be that your premium covers all categories. The lump sum amount given during the period of illness is however tax free which is another benefit associated with it.
How to apply
To get a Life and critical illness cover, you could go through an insurance sales agent, a financial advisor or directly contacting the insurance company. Sometimes, Insurance company associations in different countries provide a compiled list of insurance companies and their addresses, telephone numbers, e-mail addresses and websites that you could easily contact them. You would be asked to fill a form, provide your details in the form and state how much cover you want after which a medical examination by a medical personnel would be required most times paid for by the company.
Can you imagine a situation where you have to stay out of work or become redundant if you come down with any critical illness? As a matter of fact, what is the accepted definition to a critical illness?And lastly, how then can you help yourself in these trying times?
These and several more are critical questions one would bet to ask to save oneself the challenge of not being presented with a viable option in case one comes down with a critical illness.
You would agree with me that for one sure thing, you cannot work in times of critical illness, the best an employer would do after been rendered redundant is to give you your gratuities or benefits which might not be sufficient to cover your treatment expenses.  Then how then can you make more money to pay for the cost of treatments when you become redundant out of work?
The Critical illness cover is a special type of policy that was put in place to cater for these difficult times, it has a lot of sides to it but basically it involves the insurer having to pay for one’s cost of treatment, surgical operation and medications. It comes in different forms; some might receive a lump sum from the insurance cover for the cost of treatment so that they can carry themselves through the period of treatment financially.  To have two benefits under one policy, the Life and critical illness cover came up in order to provide a cover in case of death and also another cover if the insured comes down with a critical illness before death. There are different ways to the combination of both the term life cover and the critical illness cover; you could have a single policy where a lump sum is paid after a claim is made for whichever of the two that happens first- critical illness or death. After the first claim the policy becomes terminated. You can only have one pay out by the insurer and whichever one comes first, then you are good to go! You could also have a situation where a pre-determined sum would have been established for both critical illness and death and in this case, you can always expect the premium to be higher. It is advisable to go through the terms of the policy especially for the critical illness cover aspect before you stake out for the policy because there are several exclusions for critical illness cover as there are varying critical diseases and the insurer might not be able to provide cover for certain types of illness as such necessitating adept understanding by the policy holder.
Features of Life and Critical illness CoverThe first step after application for the policy, acceptance by the insurer is diagnosis by a specialist doctor in that field.There are standard definitions of critical diseases that are covered and these include the following conditions: o Cancer, o heart attacko coronary artery by-pass surgery o kidney failureo major organ transplant
These conditions would always be covered under any critical illness policy of any form, additionally there are other conditions and this need be stated specifically under the policy for the insurer to be liable. Examples include brain tumor, aortic surgery, blindness, deafness, Parkinson’s disease, paraplegia, multiple scleral infections, Alzheimer’s disease, severe burns and a host of other critical diseases.Your cover could be for a particular condition or illness or it could be that your premium covers all categories. The lump sum amount given during the period of illness is however tax free which is another benefit associated with it.
How to applyTo get a Life and critical illness cover, you could go through an insurance sales agent, a financial advisor or directly contacting the insurance company. Sometimes, Insurance company associations in different countries provide a compiled list of insurance companies and their addresses, telephone numbers, e-mail addresses and websites that you could easily contact them. You would be asked to fill a form, provide your details in the form and state how much cover you want after which a medical examination by a medical personnel would be required most times paid for by the company.

Parents of critically ill children may seek charities such as Jennifer Tresh for additional assistance and support.