Critical Illness Protection

Critical Illness Protection Explained

Critical illness protection pays a lump sum on initial diagnosis of a qualifying critical illness. You are permitted to keep the money even if you make a full recovery.

It can be built into another life insurance policy on a level term, decreasing term (mortgage life insurance) family income benefit ( pays a monthly amount), whole of life basis, or as a stand alone policy. Once you have made a critical illness claim it is normal that you policy will cease and other benefits will therefore cease.

Critical illness protection policies vary but nearly always include the following illnesses; heart attack, cancer, a stroke, kidney failure, coronary bypass or transplant. For full details on the cover provided it is advisable to compare the Key Facts document for each quotation produced.

Typical Critical Illness Cover

Critical Illness plans that have no investment link have no cash in value at any time and will cease at the end of the term. If you stop paying your premiums your cover may end.

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.

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