LAWTON, Okla. – “The diagnosis of a serious illness can mean a very difficult time for personal health and wealth,” said Mr Owen. “A question everyone needs to ask themselves is: “If I were to become critically ill and could not earn a living, would my family be able to pay bills, the mortgage and other expenses?
“Our lifestyles may vary, but we all need to make financial safeguards and critical Illness cover can provide vital financial security when it’s needed most.
“Most homebuyers purchase life assurance when they arrange a mortgage, but overlook critical illness cover, another form of financial protection that we are statistically more likely to need before reaching retirement.
“With the right protection in place, the insured person and their loved ones won’t have to worry about money. It’s essential to find the right peace of mind when faced with the difficultly of dealing with a critical illness.”
Critical illness insurance pays a tax-free, lump sum on diagnosis of any one of a list of specified serious illnesses, including cancer, heart attack and stroke. With medical advances, more people than ever are surviving life-threatening conditions that might have killed earlier generations.
“Critical illness insurance provides cash to allow the insured person to pursue a less stressful lifestyle while they recover from illness, or they can use it for another purpose,” he added.
“It’s almost impossible to predict certain events that may occur within our lives, so having critical illness cover in place offers protection when the insured person, their partner, family or business may need it most.”