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Critical Illness Cover

Critical illness insurance is a type of policy that offers protection in the event of a serious illness or injury.

Do you ever wonder what would happen to you and your loved ones if you were ever diagnosed with a serious illness? Critical illness cover is a type of life insurance policy that offers protection in the event of a serious illness or injury. The illnesses that are covered are usually long-term and very serious conditions such as stroke, a heart attack,  loss of arms or legs, diseases like cancer, multiple sclerosis or Parkinson’s disease.

How does it work?

In the event of a serious illness, a critical illness insurance policy will provide a lump sum (pre-defined) to the policyholder who can then use these funds as they wish. 

Do I need a critical illness cover?

If you don’t have enough savings to cover all of the necessary expenses that might appear if you become seriously ill or disabled or if you don’t have an employee benefits package to cover a longer time off work due to sickness you most definitely need a critical illness cover.  It will provide you with the financial protection needed upon diagnosis of a critical illness or disability specified within the policy.

What does critical illness insurance cover?

Critical illness policies don’t cover all illnesses. They cover standard critical illness conditions, including Alzheimer’s disease, heart attack, stroke, and some types of cancer.

Critical illness coverage varies depending on a provider so it’s important to check the details of a policy before you buy one. Some policies can cover only up to 20 illnesses while other ones cover even up to 50. You can also choose to pay more and add your children to your cover.

The severity of the condition can also affect whether you’re covered and to what extent.

How much critical illness cover do I need?

The amount of cover you need will vary depending on your personal circumstances. To decide which type of cover to take out, consider what costs you would want to be covered financially if you were to become critically ill. Maybe you would want your future medical costs covered? Or would you need some extra financial help to cover any debts or everyday costs? The extra cash sum could help towards your mortgage, rent, childcare costs, and living expenses or even pay for medication or changes to your home. If you need help choosing the right cover, contact us and we’ll help you make the right decision. 

Please contact us if you are interested in purchasing a critical illness policy, have questions about it or need professional advice.