Critical Illness cover (also referred to as Critical Illness cover) is designed to pay out a lump sum on diagnosis of a critical illness or or trauma-related event.
This benefit is available as an accelerated and non-accelerated option (Living Lifestyle Plus). The difference between Living Lifestyle and Living Lifestyle Plus is that Living Lifestyle is taken as part of your Life Cover, and claiming on this reduces the Life Cover sum assured. Whereas the Living Lifestyle Plus is taken in addition to your Life Cover, claiming on this benefit does not affect the Life Cover sum assured
Critical Illness cover will pay out a predefined amount upon the diagnosis of one of a number of conditions. The list of conditions covered can vary depending upon the insurance provider although major providers offer protection against around 25 illnesses including cancer, heart attack, stroke, paralysis, major organ transplants, Parkinsons disease and more.
You may find yourself in a situation where you need to hire home help or pay for a nurse. Alternatively, you may still be able bodied and might just want do those things in life that you always wanted to before it’s too late.
When someone is diagnosed as having a serious illness it often means they are unable to work any longer or may not be able to work for a couple of months. The problem is that after these life changing events, the requirement for money is just as demanding and, if anything can become greater.