Critical illness is one of those topics that people like to avoid until it is forced upon them. We are happy to watch intense stories of illness on the soaps, but how often do we really think about how critical illness could affect our lives? You have to be prepared for such scenarios, as humans we are in no way invincible. So when it comes to critical illness cover, you can never do enough planning – no matter what you think, burying your head in the sand is never the answer! If you’ve recently been shopping around for life insurance quotes, and received some good life insurance advice, then you’re probably in the minority, for the rest of us its best to read on.

Do you have a life insurance policy? Do you know that it is unlikely to pay out should you become too ill to work? It is advisable to research your current deal to establish if it includes critical illness cover. If it doesn’t, most policies do offer it as an addition to your outstanding policy. The long term benefits of paying that little bit extra per month can make things a lot easier for your dependents. Statistics by BUPA, one of the UK’s most established private health care companies, highlighted that one in four people develop a serious health problem between the age of 30 and 60. This is a surprisingly high number of individuals, and perhaps something to spur you on to adapting your policy?

Unfortunately, there are so many possible conditions that can stop you from working and sadly not all illnesses will be covered in your policy. It is impossible for the financial services to cover all possibilities, as with most products they offer. Therefore, it is imperative to seek financial advice over which policy would be best for you. Do a bit of research into your family’s medical history; this will give you a better outline to any possible conditions you could incur in the future.

While policies surrounding health insurance are sometimes a little complex and complicated, the long term benefits are astounding. We are more than happy to protect our loved ones should we pass away, but why should we compromise their future in the more likely eventuality of falling ill with critical illness. The initial paperwork and research is surely worth the financial security of your family? So, here are just a few bits of advice to help you on your way to obtaining critical illness cover.

Britain is an astute population, and according to Prudential, less than a quarter of the population make an insurance decision based on price alone. However, this is totally insignificant when you look at Scottish Provident research that suggests six in ten people in the UK have no cover at all. It is clear that the importance of health and life insurance is greatly underestimated within this country. Understandable, more homeowners are more worried about debt and debt consolidation. But ask yourself what situation you’d be in if you were to fall ill now whilst you are already struggling financially? If you have no cover, you will find yourself in an even worse situation. Food for thought perhaps…?

The FSA blames a lack in the availability of information on health insurance for these low statistics. However, following their report in 2006, there has been a surge in information and advice for the consumer, particularly online. Therefore, if you, like many, are unsure as to where to begin with a critical illness policy, then do a bit of research online.

So, the basics are that Critical Illness is insurance for ill health, which usually entitles the holder to a lump-sum payment should they be diagnosed with a serious condition. A caveat is regularly put on this, specifying the individual must survive for a period of time following diagnosis, in order for payment to be issued. This is often 14 days. Heart disease, strokes, cancers, Parkinson’s, Alzheimer’s and kidney failure are commonly covered. One in three Britons are likely to develop cancer in their lifetime. And then heart disease remains one of the UK’s biggest killers. Looking at it from this view, it seems as if the average policy will safeguard people pretty well against the big nasties.

The problems begin when you consider other so-called critical illnesses. For example, diabetes for many suffers is by no means regarded as critical. This is because most individuals can live fairly normally with the disease for years after their first diagnosis. However, diabetes is in actual fact the 5th most common cause of death. This is largely due to the fact that the disease can lead to various other health complications, including nerve damage and issues with the body’s extremities. So say a diabetes sufferer was to lose their hands and feet, they would not be covered by their critical illness cover. But say a healthy individual was to lose their hands and feet in an accident for example, they would be covered by their critical illness cover. This highlights just how important it is for you to seek financial advice in order to create a plan that is personalized to your circumstance.

While this may seem an unfair system, the financial services do have to draw a line somewhere. And as I’m sure this will frustrate many people within the UK, diabetes is just one example in a long list of those that do not actually qualify for insurance cover. But should this stop you from obtaining critical illness cover? At the end of the day, it depends entirely on your personal circumstance. If you already have stand alone life insurance in place, then surely it would make sense to add the critical illness feature? Or, if you have neither of these, perhaps 2011 should be the year where you at least look into the process?

Of course no one can predict the future; we don’t know when we’re going to fall ill, or how it will affect our lifestyle. For this reason there is no such thing as a comprehensive policy when it comes to health insurance. Although, researching your family’s medical history and gathering together information on your lifestyle such as habits, diet, exercise and previous illness can really help determine the best policy for you. So returning to the original question, how critical is critical illness cover? It is certainly something to seriously consider. While it is complex and sometimes complicated, you’ll be thanking yourself should anything happen which inhibits you from working.

Debi writes for Just Life Insurance the UK’s No1 site for life insurance advice, and market leading life insurance quotes.