I want added extras for my critical illness insurance ?
The term of your buyback benefit will normally range from 5 to 10 years. It however depends how much time it remains for your original critical illness insurance plan to come to an end. For instance, if your original critical illness scheme would terminate in 3 years, then you can get an extension of 5 years under your buyback benefit. On the other hand, if 6 years remained in your initial policy, your buyback term would only give you an extension of 6 years. With your buyback benefit in hand, you have the possibility to make a claim provided that event covered happened during the cover period of the buyback benefit.
Logically, you will have to pay higher premium rates to cater for the inclusion of the buyback benefit. For this reason, you should pay attention while searching for a critical illness insurance plan. It would be wise to search the market thoroughly in order to acquire a quality critical illness insurance scheme. Although complex in nature, the benefits you obtain through critical illness insurance can be priceless. Most will agree that it is better to get a living benefit rather than a death benefit. In other words, critical illness insurance gives you another opportunity to live.
Another extra other than buy back or reinstatement cover that you can place on your policy is total and permanent disability, this when the policy would pay out if you were to end up being totally and permanently disabled through illness or accident. This can be a little bit more expensive than standard critical illness insurance but can be benefcial if the worse were to happen
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