The Life Insurance Market
Critical illness cover is one of the least popular forms of financial cover available today, and new research highlights the need to consider the assurance.
Financial comparison site Confused.com has found that only 23 per cent of people have critical illness cover, to provide for them should they contract an illness or condition.
Most worryingly, one in five people say the reason they don’t have critical illness cover is because they feel employer-based payouts or state benefits will offer them enough security, should they become too ill to work.
Confused.com is urging people to reconsider this idea, since many have misunderstood how little this could provide, in comparison to the cost of running a home.
Head of life insurance at Confused.com, Matthew Lloyd, says: "With so little savings to fall back on it's important that people consider how they would manage and plan for an illness."
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