Protection when it’s needed the most
What is Critical Illness Cover?
Critical Illness Cover is designed to protect you as a policy holder by paying out a financial sum if diagnosed with certain critical illnesses during your policy period. It is often ‘bolted on’ to a life insurance policy as an additional benefit, but can also be bought as a standalone plan.
If taking out this plan, you’ll be covered for the term of the policy as long as you’re paying your premium.
The quality of cover and the illnesses covered can vary significantly between different providers. As advisors we can help you find the plan that best meets your requirements.
Is Critical Illness Cover right for me?
You never know what is around the corner, so it’s never a bad idea to be financially prepared for the worst to come.
Although it can be frightening to think about, becoming critically ill could have big financial implications for you and your family, so it’s good to consider your options. Particularly if you have a family with children or dependents.
For example, if you’re not feeling well enough to work, or if you need to make accessible changes to your home like installing a wheelchair ramp, you stand a chance of struggling financially. As such, knowing that you’ll receive a lump sum of tax-free cash from your policy provider could help reassure and support you during such a fragile time.
If you’re worried about the risk of being diagnosed with a serious illness, Critical Illness Cover could make a good addition to your life cover. You may wish to consider your parents medical history, as if there is a long history of hereditary medical conditions, critical illness cover could be a good safeguarding measure.