Critical illness insurance

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.

  • […] The policy loan option that comes with whole life insurance policies can serve as a safety net in case of emergencies. While insurance companies do charge interest on outstanding policy loans, there’s no requirement to make payments. […]

  • […] life insurance policies offer critical illness coverage through an endorsement to the policy (policy […]

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