Are They Common?

According to statistics from the Strokes Association, some 100,000 people in England and Wales annually suffer their first stroke with almost 8,000 of those being under 55 years old. A third die within 12 months and another third, over 30,000, are left to live with long term disability. Some 300,000 people annually have heart attacks and half will die (British Heart Foundation figures). More than 30,000 women each year in the UK (Cancer Research Campaign) are diagnosed with having breast cancer.

As technology improves our survival rate considerably, long term changes to lifestyle are usually inevitable, followed by financial consequences. You may be unable to continue working or have to change career, downsizing your income.

CII insurance is designed to provide a lump sum, income or both, to bear the costs of a chronic or permanent health change due to illness or accident. Unlike Life Insurance, Critical Illness Plans pay out whilst you are alive. Costs of nursing care, stair lifts, widening doorways, ground floor bedroom conversion costs etc. can all be covered. Your greatest financial need may be when catastrophic events happen to you, not after you are dead.

CII Plans may be taken over a fixed term, or even combined with a Life Insurance Plan. They can be stand alone or include a spouse in joint cover. Consequently, the wisest healthcare insurance choices are a careful combination of both PMI and PHI cover plans.

Friday, November 21, 2008