Can I add my partner onto my critical illness policy ?
Yes you can add a partner onto a critical illness insurance policy and this can be more cost effective than having a policy each. The joint policies are normally done on a joint life first death basis. So this means that the policy would pay out when the first of the joint party were to suffer from a critical illness. It would be at this stage when the policy would stop.
If you take a joint plan it is a good way of covering a joint liability such as a mortgage or a loan. This way it ensures that the surviving or well partner would not be left with a debt and not in a position that they could not cover any outstanding liabilities.
Overall a joint plan is a very good idea for husband and wife and can form the basis of a very good protection plan.
The answer to this question is undoubtedly a yes. You can definitely add a partner to your critical illness insurance policy. If you look at it from the broader perspective, it works out more efficiently than having a policy a person. How this works is that the policy is taken out on a joint life, but first death basis. What this essentially means is that you will get a pay out when one of the two people insured is diagnosed with a critical illness. This will also signify the end of the policy.
Taking out a joint partner critical illness policy is a good idea, especially if you have financial liabilities likes a mortgage or a loan to take care of. This is a great way of ensuring that your spouse is not left to fend for themselves or take on a sudden financial burden without any assistance. This is a simple way to ensure that any liabilities you have will be taken care of, as well your medical expenses. A joint plan work ideally for any husband and wife duo because it works as a overall protection scheme.