Planning For The Future

By Author: Lecia Selbo
Total Articles: 49
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It might not be anyone''s favourite topic of conversation, but the reality is that life insurance is becoming increasingly necessary. The treatment of illnesses may well be improving but sadly the number of people being diagnosed with life threatening diseases is increasing. Additionally, only some of the UK''s Local Health Authorities offer the necessary drugs and treatment on the NHS. Plus even if the NHS can offer treatment it is not always quick enough.

Macmillan Cancer Support has revealed in a recent survey that cancer survivors sometimes struggle with long-term treatment and related diseases. Despite the increase in five year survival rates, patients aren''t always prepared mentally or financially to deal with a variety of after affects that are as a result of the initial disease. Doctors can often seem to work miracles but they can''t offer financial aid in the event of a serious illness.

Life insurance is particularly important if you have a family, a mortgage and large investments. Life insurance can protect you and your family against loses in the event of illness and death. Despite being a rather morbid ...
... subject, life insurance is something that should not be put off until later in life.

Life insurance, like pensions, is worth getting sorted as soon as you start your working life. However, most people start a life insurance policy when they start a family or take on a mortgage.

At some point in life, one in three people are now affected by so taking out critical illness cover with your life insurance policy is a prudent thing to do. If you''re diagnosed with one of the specified illnesses eligible to claim, during the period of cover you critical illness insurance will pay out your chosen amount. This specific level of cover is available from ages 18 to 63 from around ?5 per month.

More than 100 families and individuals in 2008 were helped each day during times of need and struggle by making a claim on their critical illness insurance policy. The average claim according to the ABI was ?52,000 two times the average annual salary here in the UK.

The number of claims has also risen. In 2005, 80% of claims were paid; by 2008 this number had risen to 90%. Furthermore, according to the research, 97% of term life insurance claims were also paid out in 2008.

Life insurance needn''t be something to fret and worry about if you get started on it now. It might just save you and your family money and stress in the future. Lecia Selbo took out critical illness cover with Legal