Critical Illness Insurance for the Self Employed
Being self employed, you depend on few other people aside from yourself for the your own financial well being and that of your family.
Becoming ill can mean a huge loss of income and a dangerous build up of debts and other obligations, so those who are self employed may want to look at critical illness insurance.
Critical illness insurance will provide financial peace of mind if you become seriously ill and provide breathing space at a time when money issues are the last thing you want to be thinking about.
There are a number of important things to consider carefully when looking at different critical illness policies:
- The age restrictions; most companies will not extend cover to those over 70 or those below 18, although individual insurers may have criteria that are different
- Any exclusions written into the policy that will make you ineligible to make a claim, such as illness caused by drug abuse or pastimes that are considered to be dangerous
- There may be substantial differences in policy between insurers, such as offering critical illness insurance as part of a life cover product or as a stand alone policy
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The Association of British Insurers (ABI) has released a set of guidelines for what it believes to be best practice for the provision of critical illness cover which can be a great way of measuring the pros and cons of individual polices. It is worth taking the time to read the information that is available all over the internet about critical illness insurance, including consumer forums.
Use our service to get quotes and advice on your options: