Critical Illness Cover

Critical illness cover is normally an add on to life insurance policies. It is used very similarly to life insurance. This is as if you get diagnosed with a specific illness or condition the insurance company then pay out the full lump sum agreed tax free.

The illnesses which will be paid out on will always be made aware to you before the policy is taken out. This ensures you know exactly what is and what isn’t covered.

This sum can be used in any way you need for example paying off existing debts or a mortgage.

If you do not alter the policy your premiums will not change.  This means it is always the same amount being paid over the whole term of the cover. You can also pick the length of the term you need. For example, until you have paid your mortgage off.

The policy will end as soon as you decide or if the insurer pays out on the policy.

If you have children and would like them to also be covered as well, a large amount of insurers will offer this at no extra charge but the payout is normally limited to less than £25,000.