Securing yourself against future problems always requires foresight and planning. Life and critical illness cover is no different. It’s wise to act sooner rather than later as it can be difficult to obtain an insurance policy after you’ve already been diagnosed as critically ill. Insurance providers will take into account the stage of your illness (as classified by hospitals) and treatment plan – but unfortunately, even if your prognosis is healthy, it’s unlikely that you will be granted cover.

On top of this, insurance premiums for life insurance with critical illness cover are on the increase, owing to both a rise in the number of claims made and advances in medical science. The necessary medical checks that an insurance company requires will usually take a few months, so acting quickly can actually make a big difference.

It’s crucial that you select the provider of your life and critical illness cover very carefully, as there can be some disparity between policies in the industry. According to the Association of British Insurers, there are more than 60 providers offering variations and combinations of both life and critical illness cover, demonstrating the challenge that consumers face.

Apart from setting the length of coverage that you want, there is now a range of more than 30 illnesses that you can potentially find cover for. With this in mind, it’s important not to simply opt for the cheapest quote, as this may be very limited in its scope, or the most extensive plan, which can include less common illnesses and allows insurers to charge high premiums. Instead, it’s best to search for a policy that best meets your individual needs.