- Nothing in life is certain, and the diagnosis of a critical illness is a reality that many individuals have to face –
Critical illness cover can provide financial protectionwith a lump sum payment if you are diagnosed with a serious condition or illness.
EXTENSIVE CONDITIONS COVERED
There are a number of core critical illnesses, including cancer, heart attack, stroke and major organ transplant, however any pre-existing conditions may not be covered.
INDIVIDUAL, JOINT OR DUAL COVER
You can choose to take your cover on a single, joint life or dual life basis. If a partner were to have a critical illness this may affect your household income dramatically.
PAYMENT
Unlike income protection, critical illness cover will pay a one-off tax-free payment that can be used to help with things like your living costs and mortgage repayments, or towards the treatment of care.
FLEXIBLE
The cover you choose can be flexible to fit your needs. You can select the term , decide how much cover you would like and also whether you would like the premiums and the benefit to increase or decrease.
Did you know
Critical illness may at some stage affect us, here are some statistics which show just how common they are:
Someone has a
heart attack
Someone has a stroke
Women develop cancer up
to the age of 50
How much cover do I need?
The total amount you would need will depend upon your current debts and other outgoings.
Here are a few things to consider:
1
Mortgage and debts
Add up all your mortgage and debts that you may have to repay.
2
Additional expenses
Consider the cost of medical expenses and general living costs that may need to suppliment your income.
3
Deductions
You can deduct some or all of your savings, along with any assets and state benefits.