Critical Illness Cover
We pair people with their perfect protection insurance by Critical Illness Cover.
Critical Illness Cover
If you were to fall critically ill and no longer able to earn a living, how would you and your loved ones manage financially? If you don’t have enough in savings to live off during this time, critical illness cover can provide you with a real financial lifeline.
We know it’s not something you want to think about now, but it’s essential to consider what would happen if you were to fall critically ill, in order to best prepare for it – if it ever was to happen.
One of the advantageous things about having a critical illness policy in place is that it will pay out a tax-free lump sum if you are diagnosed with one of the illnesses specified in the policy.
Do I need critical illness cover?
If you’re not sure whether you need critical illness cover ask yourself, how would you and your family manage if you were not able to earn a living? If you think you would struggle, then critical illness may be a worthwhile investment.
The money you receive from the payout can be put towards whatever you wish. You could use it to clear any debts you may have, pay for medical bills or adapt your home to make it more accommodating to your needs. You could even invest some or all of the lump sum to generate an income for your family to live on.
What is critical illness cover?
Critical illness cover is a form of insurance that pays out a tax-free lump sum in the event that you are diagnosed with an illness or medical condition specified in the policy, during the term of the policy.
It’s important to establish that critical illness cover is not the same as life insurance. Critical illness cover will only pay out a lump sum if you are diagnosed with a certain illness that is named in the policy. Life insurance pays out if you were to pass away during the term of the policy.
In some instances, you can choose to add critical illness cover as an extra when you invest in life insurance.
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