Critical illness cover protects you if you are diagnosed with a serious illness such as cancer or a stroke. The lump sum payable is usually tax free and will provide valuable financial support to loved ones and anyone dependent upon your income. Critical illness cover is usually run in conjunction with a traditional life insurance policy.
Critical illness will pay out on the diagnosis of a serious illness or life changing condition, such as cancer, organ transplants, diseases such as motor neurone and permanent disability. All policies vary and not every condition is covered, it is therefore beneficial to seek professional advice from a protection specialist.
It will depend on your existing circumstances and what provisions you have already made. It is an excellent addition to life insurance, providing you with a lump sum to cover mortgage and other outstanding commitments, if you are diagnosed with a serious illness.
Again, this will depend upon your existing circumstances, family, medical history and age. As every policy is different, you will need to think of what you would like to cover medically, how much to clear your existing commitments and to provide for your dependents. All this information will be collated by our professional advisers, to ensure you are provided the right level of cover for your budget.
By completing the few questions on the above form, Compare Life Plans can start the process of finding you the right critical illness policy for you. One of our professional advisers will then discuss your existing circumstances, to understand what level of cover and the most suitable products for you and your loved ones.