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Serious illness benefits can and should always be covered when it comes to financial security. As long as you are able to work and earn an income each month, you really have nothing to worry about. The problem with serious illnesses is you won’t always know when you have them and they can happen to you at any time. You may have a genetic disorder that surfaces as you get older, and sometimes our lifestyle choices lead to certain illnesses as well. When these illnesses debilitate us to a point where we can no longer work, then it can become a problem. Even when you get a treatable form of cancer and you have to be off from work for more than 3 months, you could end up losing your job. Not only do you have to get over your illness but you also need to start looking for work to pay for all your hospital bills. Ideally you want to know a few things about the cover first and you can actually do all the reading you need on the sites where you get your quotes. Pricelineprotects.com.au is a great example with all the information neatly laid out to give you the best understanding possible. You can apply for quotes on the cover you need and then do a comparison on the premiums to see which one is most affordable. You also need to be able to compare the benefits you are entitled to when you are covered by the insurer. Your benefits have to be decided prior to inception of the policy and you need to stipulate exactly how much money you are going to receive should you be affected by a serious illness. In some instances, the benefit amount is directly related to your monthly salary and they usually set the amount to 1.5 times your regular salary. Coincidently they do the same thing with your death benefits, except for the fact that it is usually doubled or higher. Applying through your work is often beneficial because you get access to group scheme rates and the cost to pay for your cover is usually less than going direct. At least you get the tax relief for having these types of policies in place if you take them out in your on capacity. Always check to see if there are any exclusions on your policy, because they may prevent any claims for certain illnesses and you don’t want to end up falling short on that when you are seriously ill and the insurer ends up rejecting your claim when you need it most.
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