What is the Best Time to Getting Serious Illness Protection?

The simple answer is if you currently have no serious illness cover then right now today is the best time to get cover in place.

Serious Illness Cover is best purchased when you are in good health, this way you will be covered for all serious illnesses listed on your plan. Serious illness cover will NOT cover any pre-existing conditions, for example, if you had cancer in the past and applied for serious illness cover, at a minimum cancer cover would be excluded from your plan.

In most cases, if you are diagnosed with a serious illness then you will likely not be working for at least the short to medium term. Serious Illness Cover will pay a tax-free lump sum on diagnosis of one of the specified illnesses covered such as cancer, stroke, heart attack, and many more. You can use this money for mortgage payments, medical bills, or day-to-day living costs.

You can purchase serious illness insurance as an add-on to your life insurance, mortgage insurance, or as a separate policy from your life insurance. The two types of serious illness coverage available when purchased as part of your life insurance are stand-alone and accelerated.

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