Critical Illness Cover

Nowadays, modern medicine has increased the survival rate for most illnesses, many illnesses that were incurable ten years ago now have a much better chance for survivial.

However the impact of critical illness on an individual can have detrimental effect upon their finances and working ability.

If you have a critical illness policy, you could receive a lump sum payment that will allow you to stop working, relax, concentrate on getting better, and not worry about the bills.

How Critical Illness Cover works

A critical illness policy pays out a lump sum if you have been diagnosed with a specified condition and have survived the minimum period (normally 28 days).

Payment can be of the full amount of the sum assured on the policy or a reduced amount depending upon the severity of your condition. 

For conditions that start off as minor ailments but become more serious, the policy will normally only pay out when certain criteria are met. For example, for a cancer claim the cancer must usually be malignant or invasive.

The conditions covered vary from insurer to insurer, and you should check with the product provider to see exactly which conditions are covered, but these will normally include:

• some forms of cancer
• some forms of heart attack
• stroke
• some terminal conditions

We can help determine what level of cover you need, what sort of policy you need and help find the most suitable and cost effective insurance company to provide the cover.

Get in touch to arrange a meeting with our advisors to discuss your critical illness and life assurance cover requirements.