One of the major criticisms and indeed concerns about critical illness insurance has always been the limitations on which medical conditions the policies cover and what level of payout they will pay, depending on the illness.

Legal and General seems to be responding to these concerns by launching Critical Illness Extra, a new option which provides an increased level of cover.

Its existing policy, Critical Illness Cover covers 41 conditions but its new policy, Critical Illness Extra adds an extra 54 conditions on top of those covered in the standard policy. Both include Children’s Critical Illness Cover at no extra cost. An enhanced version of this is available – Children’s Critical Illness Extra – for an additional charge. Legal and General also offer GP24, which provides access to a GP 24 hours a day, from anywhere in the world, again for an additional cost.

Obviously, the big difference between the two critical illness policies is the number of conditions covered and also the level of payment made for each condition covered, with more 100% payments promised.

The question most people ask is – do I need critical illness insurance?

Well, the seventeenth century English clergyman Thomas Fuller wrote: ‘Health is not valued ‘till sickness comes’ – which I guess sums it up nicely. We don’t appreciate our good health until we are ill.

Statistics can frighten the best of us but it is a sobering thought that more than half of us will get some form of cancer in our lives and 545 people a day are rushed to hospital with a heart attack!

Why things are different now to how they used to be is that people are surviving serious conditions much more and for much longer than they have before.

So if, heaven forbid, you get a form of cancer or suffer a heart attack, your chances of surviving and living on for many years after, are much greater. In the 1960s, seven out of 10 heart attacks were fatal; now at least seven out of 10 people survive.

But you might not be able to go back to work and that’s where the problems begin. Research shows that 40% of working families would see their income drop by more than half if their main earner had to stop work and 60% would lose over a third. The bills don’t stop coming in, just because you are so unwell that you can’t work.

That’s where critical illness insurance can help as it pays out if you suffer from one of the critical illnesses you are covered for.

It’s worth considering and this new policy from Legal and General shows insurers are keeping up with the needs of their potential customers by improving the cover offered.

Call me on 07767 692653 if you would like to discuss critical illness cover or any other insurance or mortgage issue.