Receive a cash lump sum if you become critically ill
In the United Kingdom, 1 in 5 men and 1 in 6 women will experience a critical illness before their normal retirement age.
If you are you concerned how you and your family would cope, if you were to experience a critical illness. Critical illness cover will provide a lump sum payment (currently free of tax) on diagnosis of one of a specified range of critical illnesses or medical conditions. This lump sum can pay for lifestyle adjustments, repaying of a mortgage, medical treatment or for any other purpose.
The range of conditions covered by modern policies include all the major critical illness such as cancer, heart attack, stroke, permanent disability but also such things as permanent deafness, permanent loss of speech, Parkinson’s, MS and MND. It is of vital importance that any “exclusions” connected with this type of insurance plan be fully understood.