The Difference Between Life Insurance & Critical Illness Cover
Though life insurance and critical illness cover are both there to help loved ones financially when you are no longer able to, there are significant differences. Understanding these differences can help you to decide whether you need life insurance, critical illness cover or both.
Do I Need Life Insurance?
A lot of people make the mistake of assuming that they do not need life insurance, but there are undeniable benefits for everyone. Even those who are young, single and without a mortgage should consider life insurance. The death of a loved one brings with it a lot of difficulties, whether the death is unexpected or not, and many of these are financial. With a life insurance payout, the financial struggles of losing a loved one are eased. Rather than being faced with unforeseen financial burdens, loved ones can focus on mourning.
