Life Critical Illness Insurance - Small Print 

Much criticism has been thrown towards 'life critical illness insurance' companies lately, due to claims that they are selling policies were the terms and conditions are not fully understood by the insured. It is generally perceived that the companies are manipulating customers into buying policies which promise them 100% protection regardless of the circumstances of the conditions developed.

If anyone believes this, then they only have themselves to blame. Lets face it, since when has any type of insurance been easy? Especially an insurance that may have to pay tens of thousands?

There is always small print, exclusions, terms and conditions. They should nearly be read before anything else in my opinion.

Most people who get refused claims have themselves to blame. I can acknowledge that insurance companies can be a pain, but they do have to cover their own back and stick to their rules. Refusal reasons in the past have mainly consisted of non-disclosure of specific information required by the insurer such as family history. Another factor would simply be the payout being excluded due to certain terms and conditions that is simply not covered on the policy. What's covered on one policy may not be covered in another policy. Even more so, a condition that is covered by most companies may have different terms and conditions associated with the policy and any claim that may be made.

However, in today's age, if someone has cancer, cannot work, cannot make money or anything, the sum paid out from the critical illness policy may not last very long at all. The expenses required in today's society couldn't possibly up keep their usual standard of life. So regardless, there will still have to be a lot of sacrifice of personal capital.

It would be worth your while to look at other policies such as an income protection. This policy would payout if you broke your leg and you couldn't work for a while. the payments would last until you returned to work.

It will also pay up to your full wage depending on the policy taken out.

This is not the same as a critical illness policy and neither would it be covered.

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