Critical illness cover, or serious illness cover, pays a cash lump sum if you are diagnosed with a serious illness. This can be arranged on a level or decreasing basis.
There is a wealth of difference in the conditions covered by providers from 39 serious illness conditions up to 166. Prestige can help you decide which provider is the best for your circumstances. What would happen if you were diagnosed with a critical illness which meant you couldn’t work? Could you still pay your mortgage, and your bills? Critical Illness cover is a personal protection insurance product which is usually designed to pay-out a lump sum if the policyholder is diagnosed with one of the specific illnesses from a predetermined list.
Different people will need critical illness cover for a variety of reasons.
If you’re single, you might want a policy to ensure your mortgage is paid, and some form of cover is often a requirement of the mortgage application.
If you have children, you may want to ensure your family is provided for if you can’t work due to ill health.
Recovering from a critical illness can also mean extra costs for you and your family e.g. making changes to your home or car. Your payout could be used to cover this.
For more details on Critical / Serious Illness Cover, or for more information / enquiries on Personal Protection / Advice, please contact Prestige Financial Solutions