Why you should have critical illness insurance when travelling

Why you should have critical illness insurance when travelling

Having a critical illness is not something people want to think about. It can be a horrible and very difficult time trying to deal with the diagnosis of a critical illness and a lot of people tend to take the attitude ‘it won’t happen to me’. But it does happen to people and being prepared for it can make the situation a little bit easier to manage and remove some of the stress that will inevitably be suffered.

What sort of cover

Life insurance is quite a popular policy that people tend to take out when they make a big financial commitment such as buying a house. It covers you in the event of your death or on a set date, as part of a long-term retirement plan. However, not everyone is lucky enough to get to that stage without any bumps in the road. Critical illness cover and travel insurance for terminal medical conditions offers you some financial protection should you get sick. If you are diagnosed with an illness that involves you taking long periods of time off work, or even having to give up work altogether, critical illness cover gives you a form of income to make sure you can keep your head above water.

While many people who are married or in a long-term relationship have two incomes, if one of you can no longer work, it can leave a big dent in your finances. Relying on your partner’s income or insurance policy does not give you a guarantee of your own. If you take out a policy of your own, you have an element of control over what happens to you in the future that doesn’t see you relying on someone else.

Read the small print

Many people who take out life insurance policies make the assumption that they will be covered for every eventuality. But just like travel and car insurance, this is not always the case. You need to make sure you read every detail of the policy before making a decision about which one to take out. Some of them may seem extraordinarily cheap but once you read the small print, you may discover that they exclude certain illnesses or only pay out under specific conditions. For example, some policies won’t pay out for ‘early stage cancer’. This can mean any number of things and could be a deal-breaker for you when choosing a policy.

Think carefully about your individual circumstances and what is going to benefit you the most. You may have a very healthy lifestyle with no current health problems but that doesn’t mean you won’t develop something later on in life. Ensuring you have a policy that covers you for every possible incident may cost you more but if you know you have that back-up plan, it can make everyday life that little bit easier.

Although it can sometimes be difficult to think about critical illness cover, it is an insurance policy that can be extremely worthwhile. The difficulties you could be faced with if you don’t have it are often a deciding factor for people. Shop around to find the most suitable policy for your needs and ensure you ask questions about anything you’re unsure of.

About the author: 

Lee Wilson is a Campaign Delivery Manger for specialist medical insurer Free Spirit Insurance, whom this post is written on behalf of. Find out more about complex medication conditions – and their effect on travel insurance – on the Free Spirit Blog.

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