Life Insurance Search

Taking out critical illness cover is "advisable", according to the Association of British Insurers (ABI).

Jonathan French, a spokesperson for the organisation, explains that such cover can be especially useful for people with monetary obligations.

"It is advisable to take out critical illness cover as well as life insurance, particularly if you have a sizable or any kind of financial liability that getting any critical illness would jeopardise the payment of," he notes.

Mr French explains that in many cases, life insurance policies have critical illness cover attached to them.

However, he suggests that the most important thing for consumers to take into consideration is to ensure they get the right type and mix of protection for their individual needs and circumstances.

According to figures obtained from financial services provider Prudential, life insurance is the most valued form of protection for more than a third (35 per cent) of consumers.

People who are taking out life insurance may be interested to hear that Legal & General has extended its immediate cover facility from 30 days to 60 days and doubled its business critical illness cover to £1 million.

Immediate cover is a bridging facility for people who are waiting to have their life insurance application accepted while they go through medical or financial underwriting.

Usually this means an insurer is waiting for a doctor's report.

This form of protection has no pre-existing medical condition exclusions.

Russ Whitworth, underwriting and claims director, said: "Legal & General now offers the most generous immediate cover in the UK protection market."

He added that it provided valuable peace of mind for those waiting for an application to be processed.

If you are diagnosed with a serious illness and you have critical illness cover you will receive a tax-free lump sum to ensure all financial worries are taken care of.