Nothing Says I Love You Like… Life or Critical Illness Cover

In In The Press by PCH Staff

There’s always something to look forward to whether it’s a birthday, Christmas or just the fact that it’s nearly Friday! When it comes down to it, there are so many little celebrations always on the horizon, it’s easy to put off things that aren’t as much fun.

With things like bank balances, interest rates and maintaining a healthy lifestyle, it’s perfectly understandable to procrastinate and put them to the back of your mind. For example, in the UK Coronary Heart Disease is one of the biggest killers, so let’s examine what might happen if you develop a serious cardiac problem or some other awful health condition. Of course this is not really the most exciting or romantic of subjects to consider but we think you owe it to your loved ones to protect them and yourself.

Health statistics compiled by a respected evidence based healthcare website* using data from both the United Kingdom and the United States of America shows that the chance of dying from one of the following major conditions break down roughly as follows:

Condition Annual Odds Life Time Odds
Lung Cancer 1 in 1,794 1 in 23
Breast Cancer (women) 1 in 2,508 1 in 32
Prostate Cancer 1 in 2,950 1 in 37
All Cancers 1 in 391 1 in 5
Diabetes 1 in 9,787 1 in 124
Aortic Aneurysm 1 in 8,411 1 in 246
Ischaemic Heart Disease 1 in 650 1 in 8
Major Cardio Vascular Disease 1 in 315 1 in 4

(All figures shown above are for the UK or England and Wales)

So viewing the above statistics in the context of insurance cover; if you were to delay taking out a life insurance, income protection, critical illness or private medical insurance plan then if you develop one of these problems, the condition is likely to be excluded from cover and in the case of all but medical insurance will also potentially increase the cost of your protection insurance plan. It could even result in a declination of cover altogether.

Thinking about the cost of life cover or other insurance in another way; for the cost of a meal for two, or less, you can cover for the eventualities you don’t want to think about.

Four insurance product classes that would protect against the kinds of health risk we mention here are:

  • Simple level term life assurance cover – protects against the risk of death.
  • Critical illness cover – protection against a serious but survivable condition.
  • Income protection plan – could safeguard your monthly income if such a medical condition kept you away from work for a long period.
  • Lastly, private medical insurance ensures you would receive immediate medical treatment when you need it with no NHS waiting lists to consider.

As a society, we’re never going to be as excited about insurance policies as we are about birthdays or anniversaries, but making sure that you don’t add financial worry to your partner and family if the unthinkable happens might be worth thinking about after all.

Contact Premier Choice Healthcare for more information on the right insurance protection plan to purchase for you and your family.

* www.medicine.ox.ac.uk/bandolier/booth/Risk/medical.html

Premier Choice is award winning in ensuring individuals, families & companies have the right insurance to face the unexpected with advisors throughout the UK to assist you.