If you are diagnosed with a serious illness that is covered by your policy, critical illness coverage can provide you with peace of mind by paying out a lump sum payment.
You can this lump sum payment to concentrate on your health and well-being, renovation and changes into your home if needed or book your dream trip.
What is covered in a Critical Illness Insurance Policy?
Critical illnesses will vary between providers however, most will cover the same conditions. This can be but not limited to the following:
- Diagnosed with Cancer of a certain area and stage
- Heart Attack
- Stroke
- Blindness
- Deafness
- Dementia or Alzheimer
- Major Organ Transplant
- Loss of hand, foot or speech
- Respiratory failure
- Third Degree Burns
How Is Critical Illness Cover Different to Life Insurance?
Critical Illness Insurance is paid out if you are diagnosed with one of the conditions listed in the policy, it’s a policy that pays out a lump sum whilst you’re still living and can be used for whatever you like. A Life Insurance policy payout usually goes to a loved one once you’ve died.
You’re able to have both policies running at the same time and if you claim on your critical illness insurance policy, this won’t affect your life insurance policy.
If you would like to find out more about Critical Illness Insurance or would like a no-obligation quote or review of your existing policy, get in touch with our team today.
