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Critical Illness Insurance

So what is Critical Illness Insurance?

Critical illness insurance is a type of insurance policy that provides a lump sum payment if you are diagnosed with a serious illness specified in the policy.

This coverage is designed to help you manage the financial impact of severe health conditions, allowing you to focus on recovery without worrying about financial strain.

Common conditions covered include cancer, heart attack, stroke, and major organ transplants.

The lump sum can be used for any purpose, such as medical bills, living expenses, or modifications to your home.

Premiums are based on factors like age, health, and the extent of coverage. Critical illness insurance offers financial protection and peace of mind during challenging times.

Do I need it?

If you are wondering, “Do I need critical illness cover?” this guide will help you understand its importance.

Critical illness insurance provides a lump sum payment if the policyholder is diagnosed with a specified medical condition or injury outlined in the policy terms.

Generally, the policy ends after the payout, but some UK providers offer additional payments under certain conditions. Commonly covered conditions include specific types and stages of cancer, heart attack, stroke, and permanent & total disability.

Children can also be included in critical illness policies, and despite it being an uncomfortable consideration.

The level of coverage can be tailored to your needs, whether it’s to repay your mortgage, match your annual salary, or cover 12 months of household expenses.

You can adjust the coverage amount and policy term to fit your budget and requirements.

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