My son (age 25) was born with some health issues. I wont go into them here but its not something that stops him working or anything that he visitis the GP with ever he just has a check up with his specialist once per year and has not needed treatment or medication for over 15 years.
Anyway he is not at the age or in a situation where managing risk or life assurance is on his radar. He doesn’t have a mortgage or any dependents.
We as his parents are thinking of paying for IP or CI for him, obviously with his knowledge but we would pay the premiums as we want to help him out and also because he was born with health issues we feel is it a (slight) disadvantage.
Anyway my question is which do you think is better income protection or critical illness cover? Anyone have any experience with this?
And also would you go via an IFA or do research and get quotes independently?