What is Critical Illness Cover?

Critical illness cover is just one type of health insurance, the basis of which is paying a premium over a period of time which means that should you develop a critical illness during the time that the policy covers you receive a lump sum which is tax free, from your insurance company. The insurance company will list the illnesses covered and these do vary from policy to policy so it is important to check this thoroughly. More comprehensive policies may cover you against more illnesses but will probably cost more. Some more expensive policies also allow you the flexibility to choose which illnesses are included in the policy, but more standard policies will just issue you with a list.

Some policies also include life cover, so that an amount will be paid out to your relatives should you pass away during the time of the policy. If this is not included it may be an optional extra, and something you may wish to think about for added peace of mind for your loved ones.

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