Critical illness cover pays a tax free lump-sum benefit upon diagnosis of a critical illness or a critical condition. This can include heart attack, stroke, cancer and many more. A critical illness insurance payout helps you avoid the financial strain a major illness can create, so you can focus on your recovery. The policy will also pay out if a policyholder becomes permanently disabled as a result of injury or illness.
The policies can be either on a decreasing or level term basis depending on the type of mortgage you have. We can talk you through all your options
These plans have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document if you go ahead with a plan.