8th Aug ‘08 - Only 17% of Adults Have Critical Illness Cover
Posted on Friday, August 08th, 2008 at 4:23pmA report by Yorkshire Building Society has highlighted the need for people without critical illness cover to consider taking out this form of life insurance.
Entitled “How the UK is Living on the Edge”, the report found that only 17% of adults in the UK had any form of critical illness cover.
A spokesperson for LifeSearch commented, “Life cover is important but there is far more chance that you will suffer a serious illness or disability during your working life than death.
“Policies like income protection, critical illness and real life cover should be at the top of most people's protection shopping list.”
He also said that people should consider how, in the absence of meaningful state assistance, critical illness cover could make the difference between struggle and security, “It is also important to remember most people drastically overestimate the amount of state benefits they will receive. If you want to ensure you can pay your debts and maintain your lifestyle if you are too ill to work, it is crucial to look into taking out financial protection.”
