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Critical illness insurance 'extremely important' - News 2009
Taking out critical illness cover is extremely vital because diseases can strike at any time, an insurance expert has stated.
Consumers need to be made aware of the benefits of such life insurance products because this will enable them to have a fall back plan, according to Richard Jones, head of protection at Scottish Widows
Speaking while publishing details of the firm's critical illness cover claims, he said this type of insurance "is extremely important, no matter what the economic climate, as illness can affect us at any time.
We want to play a key role in helping people take control and prepare for the unforeseen, being there to support and provide them with money when they need it most, he added.
According to the firm's figures, cancer, stroke and heart related issues were the main reasons for claiming, with the average age for female claimants being 45 years old and 48 years for men.
Critical illness insurance is aimed at catering for the most common types of severe critical illnesses, said the organisation, which clarified that this means not all critical illnesses or severity of illness are covered
Taking such cover is especially vital for people with dependants as it offers a financial cushion for them.
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