Figures And Facts Related To Critical Illness Cover

by

Mike Armstrong

Critical illness cover is believed to be one of the most rapidly growing insurance policies in the UK. In the year 2002, around 1 million critical illness policies may have been sold in the UK. Medical improvements have made it possible for certain people to survive a critical illness. For example, cancer or strokes which may be the most common diseases in the UK. Some people might live normally after undergoing treatment for a certain critical illness. On the other hand, disability may strike others.

As a matter of fact, stroke may be considered as the largest factor responsible for disability in the UK. According to the strokes Association 1999, around 300,000 people may be disabled at any one time in the UK. It is therefore unfortunate to find out that so many people may be affected by this critical illness. Families for such people may get a level of encouragement when critical illness cover awards a tax free lump sum. Loss income along with debts may then be alleviated to some extent.

Most people tend to think that a critical illness can only strike others while this is not true. As a result, they fail to buy a critical illness cover. Research show that nearly 15 percent of every 7 women aged 20-40 may contract a critical illness like cancer before reaching the age of 65. Additionally, around 6 percent of every 17 women may suffer from heart attack followed by almost 4 percent out of 27 women for stroke and finally 20 percent out of every 5 women may have suffered from any critical illnesses.

As far as men are concerned, around 9 percent of every 11 men aged 20-40 may contract a critical illness such as cancer before reaching the age of 65. Furthermore, about 15 percent out of every 7 men may have become victims of heart attack followed by almost 4 percent out of every 26 men for stroke and finally 25 percent out of every 4 men may have contracted any conditions of critical illness. If compared, the figures may reveal that most women suffer from cancer whilst men mostly contract heart attacks.

Moreover, each critical illness policy may have already been defined by you about how much cover to provide. And, you may pay premiums according to the magnitude of the cover. So, you should at least have a minimum of knowledge about the subject before you finalise a deal with your insurance agents. If you choose a critical illness policy that requires premiums to be increased each year according to your age, this might eventually become a problem. In the future if you then cannot afford the monthly payments due to high pricing, your critical illness policy might be cancelled. The worst fact is that, your hard earned money might not be refunded to you. Thus do not unknowingly sign on the contract. You may seek more information first.

Critical illness cover may provide you a tax free payout if you suffer from cancer, stroke, multiple sclerosis, etc. You may verify carefully what you will be covered for. Some statistics showed: two fifths of cancer sufferers aged 35-54 may survive for three years. About 80 percent of men and women may survive a critical illness like heart attack. Moreover, Over 50 percent of these may still be alive ten years after undergoing treatment. Finally, approximately 70 percent of stroke sufferers may still be living for 12 months.

As you have seen, critical illness cover might be of valuable use to practically anyone. The aftermath that a family may endure if one member gets caught up with a critical illness can be considerable. Critical illness insurance can save someones life and even help him with a new lifestyle afterwards.

For more information about

life insurance

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critical illness insurance

please visit www.unbeatablelifeandcriticalinsurance.co.uk.

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Figures And Facts Related To Critical Illness Cover}