What Is Standalone Critical Illness Insurance?
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David Thomson
Apr 18, 2013, 10:20:03 AM4/18/13
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Article Title: What Is Standalone Critical Illness Insurance?
Author: David Thomson
Word Count: 384
Article URL: http://www.isnare.com/?aid=136671&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=136671
Easy Publish Tool: http://www.isnare.com/html.php?aid=136671
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While the majority of people who take out a critical illness policy choose a policy that also includes life insurance, there is also an option many don�t consider - a standalone critical insurance policy. So what�s the difference you might ask?
Well a policy that includes life insurance means that on the death of the person holding the policy or should that person suffer from a critical illness or become permanently disabled, then a lump sum benefit will be paid.
If you purchase a standalone critical illness policy it will only pay out the amount of benefit should you be unfortunate enough to be diagnosed with a serious critical illness or you should be become permanently disabled.
However, in many cases, purchasing a combined policy of life insurance and critical illness does work out cheaper than purchasing the standalone policy.
The reason behind this is that the majority of people take out the combined policy and overlook the standalone; this means that competition is fiercer for the combined, which helps to keep premiums lower due to competition.
The standalone could however benefit you if you don�t have to worry about dependants - if there is no one depending on you then you might not need to take out life insurance. On the other hand if you have already got coverage for life insurance and you are benefiting from a great deal, then you could consider taking out standalone critical illness insurance after shopping around for a good deal.
When purchasing a standalone policy it is in your best interest to shop around and compare as many companies as possible for the cheapest price and deal or use a specialist broker who can help. All policies have exclusions, so it is imperative that you understand the terms of your policy and what you are and are not covered for.
The small print should be looked at with a fine tooth comb as this is where the exclusions will be hidden. While a policy might seem like a cheap deal, it could end up being nothing more than a worthless piece of paper should your claim be turned down due to an exclusion you didn�t realise was there.
About The Author: David Thomson is Chief Executive of http://www.bestdealinsurance.co.uk, a specialist insurance website dedicated to putting customers first. They ensure their customers get the best deal when buying life insurance, critical illness and income protection cover.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=136671
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
David Thomson
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=136671
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=136671
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: What Is Standalone Critical Illness Insurance?
Author: David Thomson
Word Count: 384
Article URL: http://www.isnare.com/?aid=136671&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=136671
Easy Publish Tool: http://www.isnare.com/html.php?aid=136671
*********************** ARTICLE START ***********************
While the majority of people who take out a critical illness policy choose a policy that also includes life insurance, there is also an option many don�t consider - a standalone critical insurance policy. So what�s the difference you might ask?
Well a policy that includes life insurance means that on the death of the person holding the policy or should that person suffer from a critical illness or become permanently disabled, then a lump sum benefit will be paid.
If you purchase a standalone critical illness policy it will only pay out the amount of benefit should you be unfortunate enough to be diagnosed with a serious critical illness or you should be become permanently disabled.
However, in many cases, purchasing a combined policy of life insurance and critical illness does work out cheaper than purchasing the standalone policy.
The reason behind this is that the majority of people take out the combined policy and overlook the standalone; this means that competition is fiercer for the combined, which helps to keep premiums lower due to competition.
The standalone could however benefit you if you don�t have to worry about dependants - if there is no one depending on you then you might not need to take out life insurance. On the other hand if you have already got coverage for life insurance and you are benefiting from a great deal, then you could consider taking out standalone critical illness insurance after shopping around for a good deal.
When purchasing a standalone policy it is in your best interest to shop around and compare as many companies as possible for the cheapest price and deal or use a specialist broker who can help. All policies have exclusions, so it is imperative that you understand the terms of your policy and what you are and are not covered for.
The small print should be looked at with a fine tooth comb as this is where the exclusions will be hidden. While a policy might seem like a cheap deal, it could end up being nothing more than a worthless piece of paper should your claim be turned down due to an exclusion you didn�t realise was there.
About The Author: David Thomson is Chief Executive of http://www.bestdealinsurance.co.uk, a specialist insurance website dedicated to putting customers first. They ensure their customers get the best deal when buying life insurance, critical illness and income protection cover.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=136671
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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