Can I add terminal illness to my life insurance ?
Yes most life insurance polices contain terminal illness as standard. Terminal illness means that if you are diagnosed as having less than 12 months to live the policy will pay out and this means you will be eligable to make a claim against your policy. The idea behing terminal illness on a life insurance policy is that the polcy will pay whilst you are still alive and hopefully give you a chance to sort out your affairs before you finally passing away. Examples of this could be to sort your loved ones out or to pay off any debts you may have before you pass away.
The terminal illness insurance is normally standard in most life insurance policies, if you find a contract is charging extra for terminal illness insurance then I suggest you should look elsewhere for a contract that will inlcude this in for nothing. Terminal illness can also be included into your critical illness and life insurance combined policy if you buy one of these type of polices.
Terminal illness is often confused for critical illness insurance, this is nothing like terminal illness and is a lot more expensive as this is insurance will cover you for a number of pre determined critical illnesses. Critical illness is claimed upon a lot more than life insurance as there is a higher possiblity of getting a critical illness than dying or getting a terminal illness.
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