Cancer Life Insurance

There are few times in life when we even want to think about our own death, or inability to provide for our families, but organising life insurance is one of those times when we need to be extremely realistic, and to take the subject seriously. Life insurance has been designed to provide your family with the money they need to be financially secure, in the absence of your income.

Cancer life insurance is an extension of that idea, providing a customer with a payout if they are diagnosed with cancer, an illness which often results in prolonged periods of time off work, and can lead to death eventually anyway. Cancer life insurance covers a customer in two different ways, providing their family with a lump sum payout in the event of the customer’s death, and providing the customer with a lump sum payout if the customer was to be diagnosed with cancer.

Why do I need cancer life insurance?

If your family, like the majority of families in the country rely on your income, or your time to be financially stable each month, then you should consider taking out cancer life insurance.  The best way to work out if you need the insurance cover is to consider what would happen to your family’s finances if you were to die tomorrow. If you earn, how would your family cope without the income that you provide? How would they pay the mortgage? If you don’t work, but use your time to look after your children, how would your family cope with all the extra childcare costs? You can ask the same question if you were diagnosed with cancer and unable to work, look after your children, and your company sick pay ran out after six months.

For many families the payout from a cancer life insurance policy is the difference between being able to afford to pay the mortgage, and losing the home as they cannot afford it, and is a very important form of insurance.

Cancer life insurance works in a similar way to critical illness life insurance, which combines the basics of critical illness insurance and life insurance into one policy, but just covers customers against cancer, which is one of the most feared critical illnesses.

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