Critical Illness Cover

Critical illness cover will provide you with a lump sum if you were to get a specific type of life-altering condition, helping you cover any income you may lose.

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What is critical illness cover?

As the name suggests, this policy provides cover if you were to get a specific type of life-altering condition. Critical illness insurance pays out a lump sum if you are diagnosed with certain illnesses or disabilities. It is often taken out alongside life insurance, especially when you apply for a mortgage. The kinds of illnesses covered are usually long-term and very serious conditions.

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How does critical illness cover work?

If being seriously ill has left you out of pocket, it can be really handy to have a large sum of money to spend on things like everyday bills, paying off your mortgage or your medical expenses. You can use the money in any way you like.

You may have other income coming in while you’re ill, such as state benefits or sick pay from your employer. However, this may not cover all your needs.

It’s a good idea to think about how much you would need to live on if you became seriously ill and whether you would need some extra money to boost your income.

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What conditions are covered?

Critical illness cover typically protects against serious and long-term conditions, such as:

  • Heart attack or stroke.
  • Loss of limbs.
  • Cancer, multiple sclerosis, or Parkinson’s disease.
  • Blindness or deafness.

Each policy will specify exactly which conditions are covered, so it’s important to review the details carefully.

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What’s the difference between income protection and critical illness cover?

It’s fairly simple. Income protection cover, protects your income. This is whether you’re unable to work due to incapacity caused by illness or injury which results in a loss of income.

You get a regular monthly benefit until you’re able to return to work or until your plan ends, or you retire, or you pass away, whichever happens first.

With critical illness policies, you get a one-off cash sum if you’re diagnosed with a condition covered by the policy. The cash sum may help if you need to take time out for treatment and recovery. You could use it towards paying off a mortgage or help with other everyday living expenses.
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Is critical illness protection right for you?

Thinking about how you’d manage financially if you became seriously ill is important.

  • Contact us today for expert advice and tailored solutions to protect you and your loved ones.
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