Critical Illness Cover

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Critical illness Cover is designed to pay out a lump sum or an income on death or on the diagnosis of one of the specified critical illnesses during the term of the policy. These plans are usually available as an addition to life insurance but can also be purchased on a standalone basis. This type of cover is designed for individuals or families who are looking to financially protect their family, mortgage or a business with a lump sum if they meet the definition of one of the specified critical illnesses. 
The main claims for Critical Illness are Cancer, Heart Attack, Stroke, MS & Children’s conditions.
There are many other conditions covered in policies including less advanced cancers, with providers offering additional severity based pay outs.
Why do I need critical illness cover?
Everyone has their own unique set of personal circumstances, so everyone’s ‘needs’ regarding critical illness cover are different. However, if you know that a long-term illness would put you and your family in financial jeopardy, this type of cover could offer you peace of mind.
The following questions are important:

  • Will I be able to keep up with mortgage payments if I suffer critical illness?

  • Do the provisions from my employer, my savings and the state offer sufficient cover to keep up with my financial obligations if I become critically ill?

  • Would my dependants need additional support if I were to be incapacitated by illness?

Once you’ve answered these questions, your ‘need’ for critical illness cover might become more apparent.
We understand that every condition is serious, and despite view to the contrary insurers DO want to pay out hence why they make partial payments for less severe diagnoses. The lump sum or income from a critical illness pay out can be used to help repay a loan, mortgage, or perhaps pay for time off work or medical treatment. The lump sum could even be used to pay for any necessary alterations to your home. The possibilities are endless and mean you can concentrate on getting well again. We offer a free no-obligation consultation with one of our expert advisors.