zahire khan said:
Can I have more than 1 critical illness/injury protection
Yes
What is the benefit of having more than one?
You get a bigger payout. However, it may be better to increase the one
you've got or to change over completely. Beware the changed definitions in
more recent policies, though.
Or what other avenues are open to me that may be more useful if I fall ill
and cannot work
Permanent Health Insurance (PHI) is the normally accepted one. This pays out
an income if you cannot work after a pre-determined deferment period and
continues until you get better, or die, or you get to the pre-determined
termination age.
However, some people like to have an ASU (accident, sickness, unemployment
policy) with or without the unemployment bit. This pays out, usually after a
very short deferment period, for a relatively limited time such as one or
two years. If you have both ASU and PHI then you need to realise that the
PHI plan will reduce its payout in line withe money paid by the ASU. To
avoid this double insurance you might take out an ASU and a PHI with a 12
month deferment (cheaper and covers most scenarios).
Rob Graham
