Couples should not be buying joint life cover as one could claim and the policy would finish leaving the other with cover
(PRWEB UK) 26 February 2013
When choosing critical illness insurance, the conditions actually covered are as important, if not more so, as the price. Recognising this, payingtoomuch.com now compares the key critical illnesses covered – and not covered – by the leading critical illness providers.
So for example, men seeking quotes will see which policies will pay out for testicular cancer and prostate cancer and women can see which policies will payout for breast cancer lumpectomy or cervical cancer.
Currently, best cover for a male taking out life and critical illness comes from Ageas which offers high cover levels and includes testicular cancer.
Best cover for a female taking out life and critical illness is Friends Life, includes cover for breast cancer lumpectomy and cervical cancer.
Couples taking out critical illness should consider taking out separate policies so that if one of them should claim, cover remains in place for the other.
Michael Ward, managing director of payingtoomuch.com said: “Couples should not be buying joint life cover as one could claim and the policy would finish leaving the other with cover. Two single life and critical illness policies cost on average about 20 per cent more than a joint life and critical illness policy but create two children’s pay-outs if both parents own a policy. Joint life cover is always a compromise, but if the budget is tight Scottish Provident could be an option.”
Notes to Editors:
payingtoomuch.com was founded in 2011 by Michael Ward, and is a website service for consumers that compares a wide range of financial services, mortgages and insurance products, mobile phones and home services such as energy suppliers.
It prides itself on providing quality customer service, with each customer being assigned a personal representative, and help and information always being available via telephone for its wide range of products.
payingtoomuch.com’s goal is to be the best, most up to date and unbiased comparison service in the UK, which compares on price, features and benefits.
In its first year of trading, it has established circa 85,000 customers which for a private business (with no provider bias or investment) is a great start.
Michael Ward also founded Eclipse Financial Systems in January 2011, an FSA authorised business which supports the financial services activities of payingtoomuch.com. Prior to that he founded and built Direct Life and Pension Services Ltd in 1990 which grew to a business with 200+ staff and a turnover of £20m+ (2008).
Eclipse Financial Systems (EFS) provides IT consultancy services and software design to the financial services sector and brings together some of the brightest minds in financial services technology having built well over half of all the online protection comparison quote and apply systems in the UK over the last 12 years.
EFS specialises in breaking the mould, being the first to deploy real-time quotes on the internet for life and critical illness insurance, and more recently the first to create a multi-benefit onscreen protection plan comparison coupled with a needs based consumer friendly quotation tool.