Critical Illness Cover With Legal & General

by Mike Armstrong

Critical illness insurance was brought into the UK during the mid 1980's. Since then, there have been considerable changes in the insurance market. More and more companies offering critical illness cover started to make their presence felt in the insurance market. Hence, competition was created and as a result, critical illness cover prices started to fall. However, policy price may depend on the amount of cover you may want or the type of critical illness policy you had chosen. So, let's have a look at one of UK's most popular insurance companies, Legal and General.

According to Legal & General, they had paid around GBP 92,100,000 in critical illness claims. More precisely, since the year 1996, GBP 394,000,000 may have been paid as claims. They said that they also believe that their range of products may be one among the best in the market. Furthermore, Legal & General has now started to cover 35 critical illness conditions, around 12 more than that set by the Association of British Insurers. By looking at this, people may be attracted towards buying a critical illness cover with Legal & General. Generally, people may have the tendency to look for a company which can offer cost effective benefits.

Furthermore, like any other insurance company, Legal & General may payout a tax free lump sum upon diagnosis of one of the 35 critical illnesses during the term of the policy. This one off payment may ease you out of certain financial difficulties by repaying your mortgage for example. Other advantages may follow, that is paying for private medical care, a convalescence holiday, making adaptations to a home or even maintaining individual or family lifestyles.

Legal & General may classify its critical illness plan in two different categories: Mortgage protection and Family protection. Mortgage Protection related critical illness plans had been much popular than critical illness standalone policies. Here are some mortgage protection policies combined with critical illness insurance. Mortgage term assurance + critical illness cover, Mortgage Decreasing Term Assurance + Critical Illness Cover, Mortgage Critical Illness Cover and Mortgage Decreasing Critical Illness Cover. As for the family protection plan, here are some examples of certain policies. Level Term Assurance + Critical Illness Cover, Critical illness cover, Family and Personal Income Plan (FPIP) Term assurance + critical illness cover (monthly benefits) and Family and Personal Income Plan Critical Illness Cover

Additionally, with some policies, critical illness cover for future or existing children might be automatically included. This money could be used to provide healthcare assistance to the ill child whilst healthy children could be given necessary childcare support if needed.

As seen above, Legal & General may be offering you numerous advantages when you buy a critical illness cover or any other type of insurance policy. But there are thousands of insurance companies in the UK from which you can choose from. They might be more cost effective. However, to get the best critical illness cover may depend on how you see the product. Low priced tagged critical illness policies might be attractive but you might end up getting a policy that may not be able to respond to your needs in the future.


About the Author
For more information about life insurance and critical illness insurance please visit www.unbeatablelifeandcriticalinsurance.co.uk.