Most people start considering getting a life insurance plan as they get older because they have more responsibilities such as their family. It's a smart investment to be insured so that if something bad does happen your family isn't left with a pile of debt. But death isn't the only thing that can ruin lives. A critical illness can be more expensive than a death considering the hospital bills and not being able to work. This is why it's smart to get critical illness cover. This can be added to your life insurance plan or you can start a new plan that will cover you in the case of a critical illness. You'll pay your separate premiums for the illness plan and for your life insurance plan. The sooner you sign up for a contract the better because the premiums will be lower the younger you are. It's a good idea to get a longer contract plan with set renewable premiums.
One of the biggest things to consider when choosing a critical illness cover is finding out what illnesses they cover. Some companies cover more than others, but most all of them cover illnesses such as blindness, AIDS, heart attack, Alzheimer's disease, and strokes. If you want protection from more than just those illnesses you can choose a plan that will cover most any critical illness you can think of.
It is important to keep in mind that a critical illness and a terminal illness are two different things. Lots of people lump the two into one and only cover themselves for life insurance. Then they get an illness that isn't going to kill them, but will keep you from working or doing any other activities. The hospital bills pile up and they are not covered by their insurance plan because it only covers for death. It's important to remember that a critical illness can be more expensive than death because of all the treatment you will need to receive.
When signing up for your plan you will have two options to choose from in case you do come down with a critical illness. The first one is that if something bad does happen the insurance company will pay a lump sum to you which you can use to pay off things like your mortgage, hospital bills, or any other expenses you accumulated, and will continue accumulating, while in the hospital and not able to work.
The other option is that the insurance company will pay money to the health care facilities, but not directly to you. This is helpful because you don't have to worry about hospital bills that get higher and higher that can go on for years. There are some insurance companies that have a network of hospitals that they work with in which you can choose which one you want to go to and all the bills will be covered as well.