I had a conversation this week with colleagues. We found our selves on the subject of life insurance and eventually life & critical insurance. What I found amazing was the wide variety of views. Some had no insurance whatsoever and passionately believed it was not necessary, if fact a gimic, others were very supportive and talked openly about getting a good deal for them and their family. Others sat in the middle, happy with lifecover but not interested in critical.
1 in 3 chance of the big C, and you don’t know which form and to what severity. Wouldn’t you want to do something? I was amazed at those who thought critical illness insurance was a con, but what if something happened? Their answer; it’s unlikely to happen so why lose all that money when it might not?
I guess I think differently. Since getting “life and critical” I am very much in favour, even with a great pension, with a very beneficial death in service policy, I am glad it is there, maybe just in case, but at least something is there.
I suppose the next question is how much? What sort and level of cover? Well that’s another discussion. What do you think?