Recent research by Ageas Protect has seen that more people are taking out Pet Insurance than Critical Illness Cover.
Critical Illness insurance covers you if you get one of the numerous medical conditions covered under the policy and is used widely to replace an annual income or even pay off a mortgage.
After conducting the research on over 2000 consumers, Ageas found that 12% of them had taken out Pet Insurance, compared with 9% that had taken out a Critical Illness policy and only 4% who had income protection.
Life insurance was found to be the most popular protection product which had been purchased by 33% of the consumers. Long Term care insurance was the least popular type of insurance; this will cover you if you were unable to perform basic activities of daily living such as dressing, bathing, eating etc and needed someone to care for you – only 1% of people had taken this insurance.
According to the research, consumers were more likely to take a protection product if they had children. From those people with children aged 0-9, 40% had taken out life cover and 43% for those with children aged 10-17. There was also an increase for those who said they would take a critical illness policy which became 14% for those with children aged 0-9 and 15% for those aged 10-17.
Head of Marketing at Ageas Protect, Andy Milburn said, “It is clear parents are willing to pay to protect themselves and their children for a reasonable monthly amount of critical illness cover, which can always be increased at a later date, could be the perfect solution to help educate not only parents, but consumers up and down the country that critical illness cover can be taken out for the same monthly outlay as pet insurance.”
If you don’t have the cover you need to protect your family or your mortgage then Compare Life and Critical illness Insurance Today and get your family covered