independent insurance for career people
Critical Illness
Is it expensive?
Term Critical illness cover can seem expensive, but compared to what? If you compare the costs to a life insurance policy over a set number of years (or term), then the cover is normally two to three times the price. The reason for this is because you are much more likely to suffer a critical illness than to die during such a period.
When calculating your premiums, insurance companies assess the risk of the client making a claim and having to payout on that particular policy which could cover for a set term of years or over the entirety of your life.
If you were to buy a life insurance policy that will pay £50,000 on your death, no matter when you die (a whole-of-Life policy), then the insurance company knows that one day it will have to give your family £50,000.
If you take out a life insurance policy that will pay out £50,000 should you die within the next 25 years (a term assurance policy), then the life insurance company may never have to pay your family a penny.
If you take out a whole-of-life critical illness policy, then the cost may be less than life assurance, as you will die, but you might not suffer a critical illness during your lifetime.
There are a number of policy types available that will cover for different eventualities and therefore it is best to talk to someone to work out what your specific needs may be.
Daai Financial Independent Tailoring are able to help guide you through the best critical illness cover options available to you and can discuss at further length about the costs associated with such a policy. We are able to look at products from every company within the UK marketplace.
Our critical illness policy comparison service is free (unless you opt to pay a fee for our advice). Unlike many other Financial companies and brokers our staff are paid a salary, not commission on the products that they sell, meaning they we act truly independent across the critical illness marketplace to try to get you the best and most appropriate deal for your needs.
Comparing critical illness assurance with us means that you will have access to the entire UK critical illness assurance marketplace. All you need to do is complete our online quote form by click on the Get a Quote button above.
Daai Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Daai Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.