Critical Illness Insurance
What is Critical Illness? Critical Illness pays out a lump sum or income until the end of the term of the insurance policy, if you are diagnosed with a terminal illness or critical illness that meets the policy definitions.
Children's Critical Illness benefit will be payable if your child is between the ages of 30 days and his or her 18th birthday. This is at no extra cost if you have children as it is included in the plan.
Just some of the critical illnesses and disabilities that are covered by a policy would be:
- Traumatic head injury
- Loss of independent existence
- Loss of hands or feet (permanent physical severance)
- Third degree burns (covering 20% of the body's surface area)
Critical illness insurance covers members of the Armed Forces when they are on tour or in a war situation.
Imagine if you were diagnosed with a critical illness or a permanent and total disability having some extra money could help you pay off your mortgage or indeed buy your own home, pay for specialist medical treatment or allow you to take a recuperative holiday.
The good news with medical science is that more and more people are surviving illnesses once thought to be fatal, many people will go on to lead a relatively normal life.
Often big changes are made and this can affect the salary you were earning before.
Critical illness provides you with a lump sum or monthly income so you and your family can concentrate on a full recovery.