Critical illness cover is a long-term insurance policy where you will receive a one-off, lump sum payment if you are diagnosed with a serious illness.
Why should I take out a critical illness policy?
If you regularly suffer from food poisoning, you should strongly consider taking out a critical illness insurance policy. While the symptoms of food poisoning often resolve themselves without treatment, the illness can have a serious effect on your health. In rare cases, certain strains of Escherichia coli (E. coli), the bacteria that cause food poisoning, can trigger haemolytic uraemic syndrome – a risk factor for kidney failure.
If you happen to be unlucky enough to suffer haemolytic uraemic syndrome after a bout of food poisoning, a critical illness insurance policy will provide you with the money you need to pay for your most pressing financial expenses.
Do I need critical illness insurance?
If you have financial commitments, critical illness insurance will enable you to rest safe in the knowledge that you will be able to clear your outstanding debts. If you have significant savings to fall back on, or you would be able to receive financial support from your partner in the event of a serious illness, critical illness insurance may fail to provide you with good value for money.
What should I look for in a critical illness insurance policy?
If you believe you may benefit from critical illness insurance, you must research your options. Some critical illness insurance policies will only cover you for a limited number of medical conditions, so you must read the terms and conditions of your shortlisted policies to determine whether they will cover you for the complications of food poisoning.
Once you have created a shortlist of policies, you should not simply choose the cheapest available option. Critical illness cover with reviewable premiums may appear affordable at first glance, but your premiums will increase over time. If you are worried about the cost of your premiums, you should choose insurance with guaranteed premiums, which will remain the same throughout the course of your policy.