In recent years modern medicine has meant that more and more people are surviving a critical illness such as cancer or a stroke; but may not recover sufficiently for them to return to full time work. This is where Critical Illness Cover is of benefit, as it is designed to pay a one off lump sum if you are diagnosed with a qualifying critical illness during the term of the policy.
It’s easy to think “it won’t happen to me”, but if the worst should happen, critical Illness cover could help provide financial security at an emotional and difficult time. Whether it helps pay off your mortgage, funds a relaxing holiday to recover from treatment, or just helps you cope with the bills and expenses, the lump sum pay–out from critical illness cover could relieve worries and let you concentrate on getting better.
The range of critical illnesses covered and their definitions vary from company to company, so we recommend that you obtain professional advice to ensure that you take out a policy that is suited to your exact requirements.
However, some examples are:
- Heart Attack
- Certain types and stages of Cancer
Not all conditions are covered.
The policy will also specify how serious the condition must be, so it’s important to get proper Professional advice.
Critical Illness cover can also be linked to your life cover.