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Which would you say is the better choice ?

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  • 27-01-2013 1:00am
    #1
    faolteam
    Registered Users Posts: 1,778 ✭✭✭


    Serious Illness Cover or Health Insurance ???


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    #2
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    Two completely different products, serious illness will give you a lump sum if you contract one of the listed illnesses, but health insurance may allow you to receive faster treatment so you might avoid said illness! Bit of a chicken and egg situation.

    Maybe maintaining a health insurance policy and also a small serious illness policy would allow you to have some element of security in both situations, finances allowing of course.

    Personally i would probably go for a income protection policy, which will allow you receive a % of your income should you fall sick and not be able to work, and its not limited to a narrow list of illnesses.


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    #3
    tony81
    Closed Accounts Posts: 595 ✭✭✭tony81


    faolteam wrote: »
    Serious Illness Cover or Health Insurance ???

    Apples and oranges.
    A lot depends on your age too. If you're older serious illness cover can be very expensive whereas health insurance would represent better value.


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    #4
    faolteam
    Registered Users Posts: 1,778 ✭✭✭faolteam


    tony81 wrote: »
    Apples and oranges.
    A lot depends on your age too. If you're older serious illness cover can be very expensive whereas health insurance would represent better value.

    50 years of age


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    #5
    tony81
    Closed Accounts Posts: 595 ✭✭✭tony81


    faolteam wrote: »

    50 years of age

    Perfect age to consider a private health insurance policy in My opinion.

    However, specified illness cover is advisable if you have no considerable savings and a mortgage or family.

    two completely different products and without more knowledge of your circumstances it would be impossible to advice, not to mention I'm not a financial adviser!

    Other considerations include a safety net (savings), investments, pensions, income protection.. And of course living in the moment.

    You should arrange an independent financial review with a broker.


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    #6
    faolteam
    Registered Users Posts: 1,778 ✭✭✭faolteam


    tony81 wrote: »
    Perfect age to consider a private health insurance policy in My opinion.

    However, specified illness cover is advisable if you have no considerable savings and a mortgage or family.

    two completely different products and without more knowledge of your circumstances it would be impossible to advice, not to mention I'm not a financial adviser!

    Other considerations include a safety net (savings), investments, pensions, income protection.. And of course living in the moment.

    You should arrange an independent financial review with a broker.

    im single
    no mortgage , no kids , no wifes, two pensions ,


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