Carol and her husband Stuart are both 38 years old. They live in London with their four-year-old son, Benjamin. After Carol's mum was diagnosed with breast cancer earlier this year they began to worry about falling ill and being unable to work. They have life insurance, but would like cover should they become critically ill. As they both smoke and are on a strict budget they are worried that they would not be able to afford the cover. What are their options?
Jason King, Torquil Clark Life Insurance Like many who decide to buy illness insurance it is the unfortunate experience of another that leads them to question their own situation. The potential solutions are many and varied so we would prefer to look at their existing life insurance arrangements as there could be cost efficiencies available. The obvious solution is to look at critical illness (CI) cover that will pay out a lump sum on diagnosis of one of a number of specified critical illnesses, including cancer. Around 70% of female CI claims are for cancer and it accounts for ar...
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