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Individuals 65 and older or someone being faced with an expensive medical illness who is in need of a large sum of money, you have an option that may be better for you than seeking a personal loan. If you have a life insurance policy, you may want to consider selling it to a third party to receive the money you need.

As an elderly person, you may be faced with bills you cannot afford. You may be retired, to tired or unwilling to go back to work at your age, and not able to pay your living expenses. In other cases you may just not need your policy anymore, such as if you no longer have a beneficiary.

As a terminally ill individual, even if you don t want to treat the illness because the prognosis is poor, you still will want the rest of your days to be bearable and pain-free, which may require costly procedures or medications. Those in this position are often on a fixed income and unable to afford the portion of the bills that their insurance may not cover. On top of all this, you may come to (more...)

Critical illness cover is one of the most popular and fastest growing insurance products available in the UK. This is shown by the fact that there was a 31% increase in the number of critical illness insurance policies sold between 2001 and 2003.

What is Critical Illness Cover

Critical illness insurance pays out a tax free lump sum to policy holders if they are diagnosed with a serious illness which is covered by their critical illness plan. Examples of serious illnesses covered by critical illness insurance policies include strokes, heart attacks and cancer.

Policyholders can use this money in any way that they wish such as for medical care or to cover living costs that they cannot otherwise meet owing to loss of income.

Who Should Consider Critical Illness Cover

Most people do not like to contemplate the fact that they might become seriously ill and assume that it will not happen to them. However, statistics demonstrate how widespread serious illness is and that we sho (more...)