Critical Illness Cover
This cover pays out a lump sum if you suffer one of the illnesses specified under the policy terms and conditions, such as Cancer, Stroke, Multiple-Sclerosis, Heart Attack, Kidney Failure, Blindness, Deafness, Major Organ Transplant, Loss of Limbs, Total Permanen Disability and many more.
Life insurance is normally also included.
You can use the payout to pay off your mortgage, medical expenses or even go on holiday – it’s entirely up to you!
In most cases Critical Illness policies automatically include (without any additional cost) cover for children at approximately 50% of the sum assured to a maximum figure of around £25,000.
The terms and conditions can vary hugely between providers. This is certainly a product that requires advice from a qualified adviser.