Young people embracing critical illness insurance

Thu, 16 Aug 2007

According to new research by a price comparison website, the average age at which people purchase critical illness insurance cover is 33, proving that the product suits young as well as older.

Critical illness cover protects individuals in case of a critical or debilitating illness. The cover generally provides for a number of conditions, including heart attack, cancer and stroke. Many people who contract major diseases are aged between 20 and 40, proving that the product is useful to under-30s as well as those beyond.

The head of protection at the site that carried out the research, Emma Walker, reportedly commented: "It is encouraging that young people are opting to secure themselves against critical illnesses by taking measures to cover themselves should the worst happen. At 33, people might be undergoing life changes such as getting married, buying a new home or starting a family and, as a result, they have new financial responsibilities."
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