What is it?
A policy that pays out a lump sum on
diagnosis of a serious condition, such as heart disease or
cancer.
Why do you need it?
Advances in medical science mean that
more people are now surviving serious illness than in previous
years. While this is good news, many people are faced with
the realisation that they may not be able to return to work,
or indeed, wish to.
Critical Illness is, in many ways,
similar to Life Insurance with one big difference –
the insured is still alive!
Things to bear in mind
Critical Illness plans are built around
the most common serious conditions anyone may suffer, such
as:
* Cancer*
* Coronary
artery by-pass surgery
* Heart Attack*
* Kidney Failure
* Major Organ
transplant
* Multiple
Sclerosis
* Stroke
Some policies may include other illnesses such as Alzheimer’s
and Parkinson’s disease. Others include a list of other,
less common, conditions, such as blindness or coma.
Critical illness is often bought as
an optional extra on a life insurance contract.
*Not all types of heart attacks are
covered
*Not all types of cancer are covered
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