Why you should have Critical Illness Insurance
All the facts you need to know to ensure you have piece of mind
Critical Illness Cover Explained
Why You Should Have Critical Illness Cover
All you need to know about Critical Illness Insurance to give you peace of mind.
Critical illness insurance, also known as mortgage protection insurance, serious illness insurance, personal protection insurance and cancer insurance, is designed to ease the financial pressures which result from developing a serious illness or disease.
Suffering from a debilitating or serious illness, or a disability, often results in unfitness for work and a subsequent loss of income. This inability to earn, whether temporary or permanent, combined with the cost of medical bills, childcare, and mortgage repayments puts great financial pressure on people who are at their weakest and least able to deal with the strain.
Having critical illness cover means that, in return for the monthly payment of insurance premiums, a tax-free lump sum (whose total amount is chosen by the insured person on taking out the policy) is paid out should they claim, provided that the claim is on reasonable grounds.
Typically critical illness insurance covers a group of between 30 and 40 illnesses, including heart disease, cancer, and paralysis. For a full list click here.
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