Critical Illness Cover
Did you know?
- There are around £293,600 new cases of cancer diagnosed each year in the UK and there are more than 200 types of cancer.
- More than 30,000 have heart surgery in the United Kingdom each year. The national survival rate for all types of heart operation is 96.6%. Source Care Quality Commission 2007
- As many as 100,000 people in the UK are estimated to have multiple sclerosis. It is the most common condition of the central nervous system affecting people between the age of 20 and 40.
What is it?
A plan that pays out a lump sum on the diagnosis of certain specified illnesses. It is often ‘bolted on’ to a life assurance policy (term or whole of life) as an additional benefit but can be a stand alone plan.
Who is it for?
Those who want a lump sum if they are diagnosed with a serious illness. This could be to repay a loan or mortgage or to pay for time off work. The lump sum could also be used to pay for necessary alterations to your home.
The quality of cover and the illnesses covered can vary significantly between different providers. Independent advice should be taken to ensure that you have the most suitable cover.