We are but mortal
It may seem morbid, but death is a part of life and something which is sadly inescapable. Everyone will die eventually and that is why it can pay to be pragmatic about the fact we are all mortal. However, while we are alive we should not spend hours dwelling upon our mortality; instead we should endeavour to make a few strategic preparations beforehand to protect the security of those we will eventually leave behind.
Any one of us could be diagnosed with a potentially life-threatening illness, such as cancer or kidney failure, or suffer from a physical disability as a result of an accident. However, while the emotional and financial costs can be huge and without the right knowledge and help, can be hard to cope with, being diagnosed with a critical illness or suffering permanent injury doesn’t mean life has to stop. In fact, it pays to be positive and we are living in an age where peoples’ chances of longer, healthier lives are increasing all the time, due to advances in medical technology, treatments and cures.
Additionally, with the establishment of such schemes as critical illness life insurance policies, one can gain peace of mind that the financial pressure of things like medical bills or loss of earnings don’t have to be crippling. Indeed, when chosen carefully, they can be a means to ease financial pressure for yourself and your family.
One of the main benefits of taking out critical illness life insurance is that it allows you the time to come to terms with your condition, without having to worry about the financial stress of bills or living costs, for example. It also gives you the space to figure out what changes, if any, you may need to make in your life, such as home adjustments, as well as the money to help pay for them.
Many insurers offer critical illness cover and it is worth researching the marketplace. Most policies cover illness from prevalent ailments including cancer and heart disease and most should also provide cover if you become permanently disabled.
Once you receive the payout from your policy – the amount is dependent upon your policy’s terms and conditions – you are then free to decide how the money is spent. For example, you could pay off your mortgage or any outstanding debt you have.
Many financial experts advise that when looking for critical illness life insurance you should opt for a policy that suits your particular needs – it’s not always necessary to choose one that covers every single imaginable illness. By taking out such a policy you’ll gain peace of mind that your loved ones will be able to cope more easily with the inevitable and will also mean you can spend less time worrying and more time enjoying life at its fullest.
Daniel Collins writes on a number of topics on behalf of a digital marketing agency and a variety of clients. As such, this article is to be considered a professional piece with business interests in mind.
