CRITICAL ILLNESS COVER
A critical illness policy will pay a tax-free cash lump sum should you suffer one of the policies listed critical illnesses. The cash lump sum may be used as you choose. You may want to use it for private medical treatment, or to pay off your mortgage, some need it to make lifestyle adjustments like moving to a bungalow if that’s what their condition requires them to do. Although at first glance this may appear a straight forward type of cover there are huge variations.
When assessing the differences between providers policies you should consider the list of conditions covered and on top of that definition of that condition in which the policy will agree to pay the claim. Critical illness policies may also come with optional extras depending on the insurance company.
They may include your children on the policy for a percentage of your benefit, or have upgraded option that will cover more conditions and less server conditions, the list goes on. This makes the process feel like a lot of hard work, that’s why we do what we do and provide you with advice so that you can make your own decision on how you wish to address your needs.
All insurance policies come with their own terms and conditions and advice is recommended. Please contact our office or an Advisor and take advantage of our free advice.