This is because as we age insurance companies generally increase their premiums which are reflected when you are provided with a quotation from the insurance company. They associate age with a higher risk of developing critical illnesses and the increased chance that you may become seriously ill. It is also recommended that you should ideally if you can afford to do it, take out two separate policies.
If they were a combined plan then in the event of a claim upon the death side it will pay out and then cease, where as if they were separate the life plan would cancel and the critical illness pay out upon diagnosis of an ailment. By splitting the policies up you can effectively increase the chances of a claim on both policies, meaning more entitlements should you be diagnosed with a critical illness or upon the death of the insured person.
There are more conditions being diagnosed and developed every single day, however because treatment has become more advanced illnesses can often be treated and a higher number of cases are recovering. This is all dependant upon the severity of the illness that they have suffered and the general prognosis of the future of the individual.
If you ever needed to make a claim on your insurance policy then you should ensure that you have fully read and understood the terms and conditions of the policy, just to make sure that you are aware of where you stand in relation to making a claim. The money upon the payout of a claim can be used for however you feel necessary.
