Critical illness life insurance rate UK
What is critical illness life insurance rate UK?
A critical illness life insurance rate UK policy provides customers with an insurance policy which gives them total peace of mind that their financial responsibilities will be looked after should the worst happen. A critical illness life insurance rate UK policy gives customers both life insurance and critical illness insurance in one.
The life insurance part of critical illness life insurance rate UK will pay out a lump sum to the family of a customer who loses their life. The payment can be made to whoever the customer wishes, and the money is usually used to pay off a mortgage, or to help run the family home until they get back on their feet.
A customer can choose the level of life insurance payout, and their critical illness life insurance rate UK quote will reflect this when they take it out. The life insurance included in critical illness life insurance rate UK is term life insurance, which offers life insurance over a certain term. Term life insurance is commonly offered alongside a mortgage, and usually lasts for the term of that mortgage, after which the customer has less need for it, as they have paid off their biggest financial responsibility, their mortgage.
The life insurance part of a critical illness life insurance rate UK policy is one of the most important as you will be unable to earn any more money once you have died, and it will guarantee a customer’s family somewhere to live, and financial security at such a difficult time.
Critical illness insurance
The critical illness insurance part of a critical illness life insurance rate UK policy provides customers with an insurance policy that will pay out a tax free lump sum to a customer who is diagnosed with a critical illness. The customer must live through a survival period to be able to make a claim, and that survival period is usually around 28 days from first diagnosis but will vary from insurer to insurer. The list of critical illnesses will vary as well.
Customers with the critical illness part of critical illness life insurance rate UK will have peace of mind that they will be secure financially should they become ill and be unable to work for a long period of time, not having to worry about how long their sick pay will last, and the effect their time in hospital is having on the family’s finances