Hi there,
I was about 3 years ago, diagnosed early with cancer and after all treatments, I got all clear and all well now Thank God.
However, something my oncologist mentioned in passing (being proactive about looking out for oneself), I can't get out of my mind: about critical illness and life cover.
My hubby and I both have life cover, however that ends in 2027 (same time as mortgage)...however after that date we have no life cover in place..By then we will be early 60s.
I'm presuming I will never be able to buy affordable life cover given my diagnosis..so would it be prudent to take out new critical illness with life cover just for my husband alone. He is the higher earner-self employed- in our family. We have 3 children (Uni, secondary and primary school)..
I'm thinking that if anything happens to me, hubby won't be able to keep up full time working. Also if anything happens to him (recently he had a health scare but all well Thank God), how would I cope re living expenses etc..
Would it be very expensive to take out new policy just for him? Are policies available where the level of cover does not decrease each year while the premium does not increase as well?
Only times in the past we took out cover was in relation to mortgage..so not very knowledgable re such stuff.
Any advice would be welcome..
Thanks.