How To Assure Your Insurance Continues In Pursuance Of Its Total Term
How To Assure Your Insurance Continues In Pursuance Of Its Total Term
When taking out insurance such as critical illness you should be aware that most companies offer a system for payment failures. Should you not have enough money in your bank or are unable to make a premium and your payment fails they will typically offer you a 30 day grace period in order for you to make the payment to catch up. This payment will have to be made within this allocated timescale otherwise the existing insurance will cease and you will get nothing back in return. Regardless of whether you are looking at taking out your first ever critical illness policy or you have existing ones, it is always advisable to shop around. It is amazing at how many different deals can be out their. Typically if something looks too good to be true then it generally is. Make sure you deal with a reputably firm to ensure your money is safeguarded should you ever need to make a claim and always make sure that they are registered with the FSA - Financial Services Authority. Also when setting up a policy you should ensure that you receive policy documentation, this will almost certainly be needed when a claim is to be made.
Shopping around can result in you getting a better premium and possibly getting a better type of covereage than your existing policy may have. Just because you have had your existing critical illness policy in force for say an example of 15 years doesn't mean that you have to stick with it. There may be something on the market that offers a more comprehensive cover for a better premium; this just goes to show that shopping around can pay off. With any sort of policy you are typically allowed mid term to change the amount of cover that you have by increasing or decreasing it, and in many cases this may require supporting evidence such as medical or financial. This also may result in an increase in premium, decrease, a declaration of health form to be completed or even a form of written confirmation to be sent to the company to confirm that you are happy with the changes.
Most insurance companies that offer critical illness insurance have a specified list of illnesses and diseases that they will cover and class as an actual critical illness. Typically the insurance companies request and stipulate that the illness must be of one that results in permanent symptoms for it to be covered under their list of conditions. As insurance companies are so different in their coverage and terms and conditions there is generally a variation on the amount and type of critical illnesses that each company will cover. An example of one of the critical illnesses that is typically covered by most insurance companies is Alzheimer's disease. This is an awful disease that is the most common form of dementia and affects typically around 450,000 in the United Kingdom. It affects the brain in a physical way which disrupts the brain and its functions by killing off the brain cells. It has been proven to be found that people that are diagnosed with Alzheimer's disease have been found to have a shortage of a certain chemical in their brain which could ultimately cause, lead or trigger this disease off and the lack of this chemical affects the messages that are sent to the brain for example to speak etc. unfortunately the longer the patient has had this disease the worse the symptoms become and as they get worse they get more noticeable. Some of the symptoms that an Alzheimer sufferer may experience can by typically found to be things like confusion, forgetfulness, mood swings, mixed emotions - one minute happy and the next sad. Unfortunately there is no real confirmed causes of this disease but it has been suggested that things like age, environmental factors, diet and the general health of the suffer all contributes towards it becoming apparent. A person that is suspected to be suffering from Alzheimer's disease may be medically tested by the means of blood tests, physical and mental examinations, an MRI scan or even a CT scan. Unfortunately like a lot of illnesses this disease does not currently have a cure. It however does have various drugs that can be used for treatment to alleviate some of the horrible symptoms that are experienced.
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