Critical Illness Cover

Considering just how many lives are affected by critical illnesses such as heart disease, cancer and stroke, it is surprising that more people do not take out critical illness insurance.

The principle is straightforward; in the event of one or more of the specified illnesses being diagnosed, the insurance company will pay out a lump sum after a specified survival period. Often, critical illness cover is combined with other types of insurance and a given amount may be paid out on the death of the insured.

Note – Critical illness policies should be checked as only some forms of cancer, heart attack and stroke are covered by this type of insurance.

* If premiums are not maintained, then cover will lapse. Critical illness plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document if you go ahead with a plan.