Critical illness insurance
Critical illness insurance quotesCritical illness insurance is a type of insurance policy that pays out a lump sum upon diagnosis of a serious illness. The term and sum to be insured are decided at the outset. If a critical Illness is diagnosed during the specified term then the sum insured is paid out. If you have not suffered any serious illness at the end of the term then the plan ceases and nothing is paid out.
Critical illness insurance policies are different in that they cover an individual for life or for a set period against a number of serious illnesses, diseases and medical conditions. It pays out a single tax-free lump sum on the diagnosis of one of the illnesses specified in the policy details. Diagnosis alone of one of the specified illnesses is sufficient to trigger payment. There is no requirement for loss of earnings or even for special medical treatment.
The plan can be set up on a single or joint life basis and can be added to either level term or decreasing term, mortgage protection insurance.
Before making any decisions on critical illness cover, there are a number of factors to consider. How much money would you need if you did become critically ill and for how long would you need the cover? You also have to consider the various illnesses that are covered by different insurance companies and any conditions that apply. For this reason we recommend that people consider taking out a comprehensive policy, as this takes out most of the risk in you not being covered for an ailment.
For enquiries about critical illness insurance - Click here for an enquiry form
Phone us on Tel. 01254 660101, if you would like an online critical illness insurance quote or you would like to speak to an advisor about critical illness insurance
