What is Critical Illness Cover?

Critical illness cover pays out a tax-free cash lump sum if you are diagnosed with a qualifying condition listed on your policy. Conditions usually include some forms of heart attacks, cancers, strokes or kidney failure or serious procedures such as a coronary bypass or transplants. The one-off lump sum differentiates critical illness cover from income protection, which pays a regular income and also covers a wider range of health conditions.

Do I need Critical Illness Cover?

Critical illness cover can prove invaluable if you are unfortunate enough to be diagnosed with one of the specified serious conditions listed on your policy. In these circumstances it offers the reassurance that you will receive a lump sum which can then be used to pay off the mortgage or to meet your family’s monthly outgoings while you concentrate on getting better.

The first priority of anyone with a partner, children or other dependants should be to take out life insurance. However, because this only pays out if you die it is important that you should also have either critical illness cover or income protection. A single person should certainly consider the benefits of critical illness cover or income protection, even if they have no dependants.

What types of Critical Illness Cover exist?

Critical illness cover can be bought either as a standalone product or in combination with life insurance. Although critical illness policies are all basically designed to do a similar job, there can be huge variations between the terms of one policy and another. Therefore it is essential to read and compare details carefully to ensure that you take out a policy that is right for you. The most important area for scrutiny will involve the conditions covered by any one policy.

To find out more about critical illness cover, why not give Better Protect a call on 0203 540 1667 or request a quote using our online form. We offer friendly, expert assistance over the phone and a member of our fully trained team will call you back to discuss your needs more fully. We’ll find the most suitable policy for you and get you the best-possible discounted deal.