When you look at any type of insurance, whether it’s car insurance or critical illness insurance, you might notice that some of the best deals are only available to new customers. Similarly, special promotions and incentives are often reserved for newcomers, leaving loyal customers who have been with the same company for years out in the cold. This can be pretty frustrating for those of us who value loyalty.

However, there’s a way for everyone to benefit: shop around and compare different insurance policies. Insurance companies use this strategy to attract new customers, but it means even long-time policyholders can take advantage by looking into switching.

For example, by checking out the latest critical illness policies on comparison sites, you can see what new benefits and costs are available. If you find a policy that offers better coverage or a better price than your current one, it might be worth considering a switch.

Improvements in Critical Illness Insurance

In recent years, advancements in medicine have led to significant improvements in critical illness insurance. With a better understanding of various illnesses, insurers can now offer a wider range of coverage options that weren’t possible a few years back.

However, if you’ve had the same policy for a long time, these new inclusions probably won’t automatically be added to your coverage. When new serious conditions are included in standard policies, insurers usually only offer these updated terms to new customers, leaving existing policyholders with their old terms.

Additionally, some providers are now including reduced payouts for less severe illnesses as a standard, and others are offering free additional coverage for children on new policies. But again, these updates are unlikely to be added to your existing policy unless you specifically ask.

If your current provider won’t update your policy to include these new terms and conditions, it might be time to consider switching. Doing a quick comparison of critical illness insurance policies can help you see if you can save money or get better coverage by switching providers. It’s an easy process, and as long as you secure your new policy before canceling the old one, your coverage will remain uninterrupted.

Regularly reviewing your critical illness policy ensures you’re getting the best value for your money and the best possible protection for your family. It doesn’t take long, but the benefits can be substantial.