There are a variety of options available and you can often pick and choose what level of cover you want. For example, you may want cover only for unemployment if your company offers sick pay.
Make sure you check the small print before you commit to a policy, because all insurance has cover restrictions. A pre-existing medical condition, for example, is likely to prevent you being able to claim for that condition if it reoccurs.
Most policies have an initial exclusion period of between 30 and 60 days before you can claim and you usually have to continue to pay premiums while you are claiming.
Dont take the insurance offered by your lender before shopping around for alternatives. You make get a better deal by going to an insurance broker.
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