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What Are The Consequences Of NOT Having Critical Illness Cover In Place?


Critical illness cover is a type of insurance that pays out a lump sum of money if you are diagnosed with a serious illness that is covered by the policy (If you would like to read more about what this is; click here). While it is not a legal requirement to have critical illness cover in the UK, it can be an important financial safety net for many people. In this article, we will explore some examples of what can happen if you don't have critical illness cover in place.

  1. Loss of income: If you are diagnosed with a critical illness and cannot work, you may find that your income is significantly reduced or even stopped altogether. This can make it difficult to pay bills and cover living expenses, which can lead to financial stress and hardship.

  2. Medical expenses: The cost of medical treatment for a serious illness can be significant, and without critical illness cover, you may be responsible for paying these costs yourself. This can include hospital fees, medications, and other medical expenses that can quickly add up.

  3. Impact on family: A serious illness can also have a significant impact on your family, both emotionally and financially. If you are unable to work, your spouse or partner may need to take time off work to care for you or your children. This can result in lost income and additional expenses for childcare or other support services.

  4. Debt and financial strain: Without critical illness cover, you may find yourself in debt or financial strain if you need to cover medical expenses or if you are unable to work. This can lead to missed payments, defaults, and other financial issues that can have a long-term impact on your credit score and financial well-being.

  5. Limited treatment options: Without critical illness cover, you may be limited in terms of the medical treatment options that are available to you. Some treatments may not be covered by the NHS, or you may have to wait for treatment, which can impact your chances of recovery.

In conclusion, while critical illness cover is not a legal requirement in the UK, it can provide important financial protection in the event of a serious illness. Without this cover, you may be at risk of financial strain, lost income, and limited treatment options. It is worth considering whether this type of insurance is right for you and your family, and speaking to a financial advisor or insurance provider to learn more about your options.

If you are interested in registering for critical illness cover feel free to contact us and speak to a member of our customer care team today.

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Your Choice Cover

12 Celtic Trade Park, Bruce Road Fforestfach, Swansea, SA5 4EP

Phone: 0333 188 7617

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