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Critical illness insurance cover

Often overlooked but it has to be said if you are ever going to have critical illness cover it should be on your mortgage before anything else.

Anyone who is already aware that life insurance on a mortgage is a necessity would also be know the importance of critical illness insurance cover as an additional benefit to any mortgage life insurance contract.

If you already have life cover or are taking it out to cover your new or existing mortgage you already know how important it is to ensure that the mortgage is repaid should you die during the term of the debt.

The whole point of Critical illness cover is to ensures that the same mortgage is repaid if you suffer a critical illness such as a heart attack cancer or stroke to name o few conditions that could be covered.

Lets say for example someone suffers a heart attack, as a result they are rushed into hospital were they stay to recuperate for a couple of weeks, all this puts an unnecessary strain on their finances.

Once they come out of hospital they won't be able to return to work immediately so they will probably be signed off for a few weeks more depending on how serious the attack was.

If they had the presence of mind, when they took out their life insurance to cover their mortgage, to get critical illness cover as well, during this period or shortly after subject to a satisfactory claim the life insurance company would be able to pay out the whole benefit and they would be able to redeem their mortgage.

The whole point to this example is not having a mortgage to pay every month would be a significant weight off not only their mind but also off their finances.

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