Critical Illness News
Consumers should be wary of critical illness advice
When it comes to taking out critical illness cover, consumers should be careful to recognise the difference between various policies.
That is according to Peter Rutherford, a senior independent financial advisor, who suggested that there can be significant differences between critical illness policies.
His comments came on the website nebusiness.co.uk, in response to a consumer query about how effectively critical illness cover can protect mortgage payments.
"Generally speaking, critical illness policies are designed to pay out a lump sum on the diagnosis of one of a number of generally life threatening or disabling diseases or conditions," Mr Rutherford said.
He noted that many of the critical illness packages offered by banks provide only very basic levels of cover, suggesting that such options do not always offer consumers the best value for money.
Last month, IFA Online reported that it could be possible in the future for consumers to bolt cover for various conditions onto their critical illness cover.
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