Critical Illness Insurance 15 Ways to Save Money
7. You can pay to have some policies backdated, giving you a chance to lock into a more advantageous rate and age bracket
Doing this will cost you more upfront, but it can save you money in the long run, especially if you have a long-term policy.
8. Choose between term and permanent critical illness insurance
Permanent is more expensive at first, but it is very affordable if you buy it when you are young and in good health.
Term insurance renews at a higher rate every year. If you are looking for long-term protection, choose wisely.
You don’t want your term policy to end at an age when renewing will be too expensive.
9. Your employer’s benefits package may include critical illness insurance
If the amount of coverage provided by your employer makes sense for you, that’s great! You have the coverage you need.