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When critical illness insurance was first introduced it initially only covered about four conditions: heart disease, coronary bypass surgery, stroke, and cancer. Today there are many more conditions covered, with some insurance companies covering over 40 different conditions. And some companies are now offering accident critical illness coverage and including some kinds of accidents as covered conditions. Adding accident coverage seems fair for the critical illness prices charged because whether a person is disabled because of an illness or an accident, if they are unable to work and support their families it can devastate their finances whatever the reason.
Accident Critical Illness - Accident Critical Illness Cover
So accident critical illness insurance can help pay mortgages and living expenses, as well as covering rehabilitation or ongoing treatment costs. But, just as with the traditional illness coverage, it is important that a person investigates the accident critical illness cover policy before taking out a plan. If the accident was cause by reckless behavior, the policy holder may not be able to claim on the accident critical illness claim. The policy holder may have to prove that the accident was no fault of their own, and this could be difficult if they were under the influence of any substances or performing dangerous actions.
Accident critical illness can be taken out to protect a mortgage or even a family. If you take your plan to protect a mortgage it is likely to have the sum assured decreasing over the period of time you take the plan. If you take a level term insurance plan this is the ideal way to protect a family as the sum assured you take the policy out for will remain level for the full policy term.
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