Should I Buy Cheap Critical Illness Insurance?

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So you are looking for critical illness insurance on the internet?

Your mortgage broker or financial adviser has hopefully advised you to take it out to protect your home or family and you are searching yourself to see if you can find it cheaper. Or your friends have mentioned it to you and you haven't yet taken any advice. You type in "cheap critical illness insurance", "best critical illness rates", "cheapest critical illness policy" but do you really want the cheapest?

Critical Illness Cover is less cut and dry than life insurance. Each provider will offer slightly different terms which cover different types of critical illness and often different degrees of cover within a particular condition. This may only become known to you when you need it most at the point of claiming on the policy.

Research has shown that some critical illness plans will cover as little as 14 conditions whilst others will cover well over 30. This might be obvious but think about it, policies covering less conditions are less likely to pay out, have less risk to the insurer and therefore have smaller monthly premiums. Ask yourself this, Do I want to have the cheapest possible premium? or Do I want the best possible plan within my budget to protect myself and/or my family?

Depending on your response you may still be looking for the cheapest critical illness plan and ours as well as many other websites will be able to offer you cheap critical illness quotations. However if you have come this far and recognised a risk I'm sure you will be looking for the best solution to protect yourself against this risk.

My suggestion would be to look for an independent broker firm that can offer you financial advice and insurance advice based on your personal demands and needs and recommend a product that is not only affordable but also is best suited to achieve your protection objectives. Like many products cheapest is not always best!

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