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Big changes on the horizon for Critical Illness Insurance. Page 2

Author: Michael Challiner

Insurance companies have at last realised that they're not

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going to get anywhere marketing policies that people can't or won't afford, and where the companies can't afford to lower prices. { motor insurance } So it now looks as if insurers such as Scottish Widows are considering a break through - splitting the cover so that the prospective policyholder can specify which illnesses he or she wants to insure against. It's a form of "menu pricing" - cover for each illness would have a price and you simply select which illnesses you want to insure against.

Whether such insurance proves popular will very { Car insurance } much depend on the cost. For example, if cancer accounts for around 60% of current claims, you'd expect the premium for covering cancer alone to be about 40% cheaper than a full strength critical illness policy. We'll have to wait and see.

If you're interested to find out how much a standard critical illness policy would cost you, you'll find it cheapest on the Internet. { cheap mortgages } The best sites to look out for are the independent discounting brokers who deal with all the big insurance providers. These brokers can search the whole market for you, come up with the cheapest insurer, and discount their price. Try to use a broker who'll also give you personal advice on the phone as some policies do vary in the scope of their cover.