Critical Illness Cover in the UK pays out a lump sum of tax-free cash if you are diagnosed with a critical illness like a heart attack, cancer, stroke, major organ transplant, coronary artery bypass surgery, multiple sclerosis, total and permanent disability, or kidney failure. You should always take the time to read the Critical Illness Cover Key Features document to find out exactly which critical illnesses are covered and which ones aren't, like HIV/AIDS or injuries you cause to yourself.
Critical Illness Cover can usually be bought in the UK by one person or by two people.
Critical Illness Coverage can usually be bought for a set amount of time or for the rest of a person's life, depending on what the cover is for.
Critical Illness Cover is added to a policy that pays out either when the life assured dies or when a critical illness is found early or just when a critical illness is found.
In the UK, most people pay a monthly or annual premium to cover the cost of critical illness cover. The premium is either guaranteed to stay the same for the life of the policy or can be changed every five years.
Critical Illness Cover is often bought to pay off a mortgage or loan in full if a certain critical illness is diagnosed, or to give a lump sum to the person with the critical illness and their family to make life easier.
In the UK, the cost of Critical Illness Cover usually depends on things like age, sex, health, term, smoking status, amount of coverage, and medical history in the family.
Many insurance companies in the UK offer Critical Illness Cover. If you want advice about getting this kind of insurance, you should talk to a financial adviser.
