Critical Illness Cover

This policy was put in place to pay out a lump sum benefit should the policy holder be diagnosed of certain life threatening or debilitating illnesses.

Critical illness cover is better known as critical illness insurance and this policy covers specific illnesses that will be listed within the policy. It is a long term policy to cover any requirements and it pays out a tax free, lump sum should the worst happen which can be used to help pay off your mortgage, debts or make any amendments to your home should a change in your circumstances arise. It is completely up to you how this money is spent.

This policy is designed to pay out a lump should you obtain any illness or conditions specified within the policy but it does cover the following

• Different stages and types of cancer
• Heart attack
• Strokes
• Conditions (e.g. multiple sclerosis)

All subject to policy agreements.

General government benefits may not be enough to protect you and your family should the worst happen. Depending on whether you even qualify for government benefits depends on your own circumstances, for example, how much money you have in saving or if your still working, also if you have any children in the household, therefore, having critical illness life insurance can provide peace of mind.

Here are some of the main factors to that will dictate how much your monthly premiums are;

• Age, unfortunately the older you are the more susceptible and vulnerable you are to an illness.
• The amount of cover you require will determine how much you pay
• Whether or not you currently smoke or have previously smoked
• Your occupation will be considered as some jobs carry more risks than others, for example a builder would pay more as they are more likely to injure themselves whilst at work than an accountant.

• Cash lump sum can be paid out if you were to die
• If you are diagnosed with a critical illness or condition you receive a pay out (monthly instalments is an option)
• If you are diagnosed with a terminal illness, a pay out benefit would be released
• You and your family are financially protected should the worst happen.