Life Insurance -
Critical illness insurance inventor: It's a better option - 14/01/2008
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Critical illness life insurance needs to be better publicised among customers, its inventor said today.
Life insurance for critical illness differs from mainstream life insurance due to the fact that it provides a lump sum payout for people suffering from a pre-set list of serious illnesses - rather than paying out on death.
With life expectancies in the UK on the rise, Dr Marius Barnard commented that, despite its comparative unpopularity, the insurance often represents "a much better financial solution" than life insurance.
Commenting on the reasons behind this differing popularity between the two different types of insurance, he explained: "Life insurance sells easy, it is easier to understand: if you ask people if they have heard of life insurance, then everyone will say 'yes'.
"If you ask about a critical illness policy, then a high percentage of people won't know."
Dr Barnard, who invented critical illness insurance in 1983, now works as a consultant with life insurance provider Scottish Widows.
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 Life insurance guide. Most life policies have optional extras, which include the following. A waiver of premium...
Life Insurance. What is Life Assurance/Insurance? What types of life assurance are there? What is critical illness...
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