Critical Illness Cover - is yours fit for purpose?

Jade Goody's tragic death and news that Steve Jobs is undergoing further treatment has had the effect of bringing Cancer into the limelight and reminds us all to assess how we would cope if the worst should happen.

As a Contractor you rely on your ability to get on site in order to make an income but if a Critical Illness such as Cancer were to prevent you from working, you need to make sure that you have the financial reserves in place to support your lifestyle and protect your family what will already be a very stressful time.

With Apple CEO, Steve Jobs, undergoing further treatment for Cancer and being forced to cut back on his involvement with the company it is a stark reminder that a Critical Illness has an enormous impact on your ability to earn a living and as such, having the correct cover in place is vital.

It is estimated that one in three people will be affected by Cancer at some point in their lives, a terrifying statistic made worse by the number of us neglecting to protect ourselves and our families with an insurance policy that will pay out when we need it.

Act now to benefit in the future

With savings offering their lowest returns in over a decade it is more important than ever to make sure you have a plan in place that will provide an income you can rely on.

Critical Illness cover will pay out a lump sum on diagnosis of a critical illness such as a cancer, heart attack or stroke and can help cover medical expenses, changes to your home or vehicle in order to accommodate your condition or any other purpose.

For a relatively small monthly premium you can ensure that a policy will pay out the tax free lump sum when you need it most, and you can rest assured that even if you recover fully from the illness, you won't have to pay back the money given to you and your family wont be left to foot the bill if the worst should happen and you eventually die.

Review your cover

If you are already covered under a Critical Illness insurance then it might be beneficial to review your policy and make sure that it is up-to-date with your current lifestyle and expectations. As we move through life our priorities change and as such it is important to regularly review insurance policies to make sure they are still relevant.

If you don't currently have any protection in place then now is a good time to address how you and your family would manage financially if your income was taken away. Often we grow complacent and forget that a Critical Illness such as a heart attack can strike without warning. We urge Contractors to think carefully about your requirements and assess your current savings etc that might support you if you are unable to work.

If you don't have the necessary provisions in place then Critical Illness cover could be the answer. It is quick and easy to set up and the entire process can be done via telephone and mail so you don't have to answer medical questions face-to-face if you don't want to.

Our award winning protection adviser Samantha Foster is on hand to find you the best policy to suit your individual requirements and at a price you can afford.

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