Life insurance/critical illness cover

TIGASH

kingstreet said:

TIGASH said:

Thanks for all your further replies. My current employer provides death insurance (payout when I die) I don't qualify for anything else. 

So the best thing is to look for permanent health insurance that covers my income if I were to become ill. 

Yes. Plan to cover until retirement age and choose ONLY "own occupation" rather than the cheaper "work tasks" where you lose out on a successful claim if you can hold a pen etc.

Choose deferred (or waiting) period which matches any employer sickness benefit period or for which you will have savings. The longer the deferred period, the cheaper the premium. During the deferred period many insurers will assist with rehab (such as physio or retraining) to help to limit the eventual claim costs.

As the benefits are paid free of tax, you can choose a level of benefit comparable to a percentage of your net income.

Increase options can help with benefits keeping their purchasing power.

That is super helpful thank 😊 

TIGASH

Thank you everyone for all your help