Critical illness

A critical illness policy will pay out an agreed sum in the event that you are diagnosed with a serious illness or condition. Depending on the provider chosen and the type of critical illness policy they provide, the list of illnesses can range between 60 to in some cases over 150 conditions. You can include your children on some policies. Those that cater for children have an additional list of illnesses and conditions which are child specific.

It is an unfortunate reality that some of us during our lifetime will suffer from some kind of critical illness. By putting in place a critical illness policy you can prepare for the unexpected.

It is also worth noting that a critical illness will not only affect your life, but your whole family’s lifestyle too. These policies can deliver much needed financial support during what will, in all likelihood, be a very difficult time. Critical illness cover can be used for various reasons:

• To cover essential expenditure and existing financial commitments, like mortgage payments, household expenses or existing credit agreements
• To cover medical expenses, perhaps requiring specialist overseas treatments
• Home improvements to adapt your home to your critical illness
• Time off/loss of income while you care for spouse/child

Typically, a critical illness policy will cover you against a number of major conditions including:
• Cancer
• Heart attack / angina
• Stroke
• Multiple sclerosis / motor neuron disease
• Diabetes, kidney or liver failure

Are Critical Illness policies expensive?

A critical illness policy can be tailored to any budget and you can even specify the amount of cover you would like. Typically, we would build in an element of cover alongside a life insurance policy.

To find out more and understand how best to protect your family, book one of our free 30-minute consultations.

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