As such if you are struck by a critical illness such as a heart attack, stroke or even cancer then it doesn’t necessarily result in death. That said these illnesses still occur, albeit not as frequently as before. A critical illness can still have a damaging impact on one’s life which may result in a reduced quality of life.

Life insurance to cover an untimely death is accepted as an important part of life but critical illness has been largely overlooked. A critical Illness can have a profound effect on someone’s standard of living. It may mean that there is a complete change of career with a dramatic effect on earning ability. It could mean that someone would be unable to work and need constant care. It could also affect their living environment, having to move home or adapt their current home.

In these circumstances the financial implications will be immense, if there is no critical illness cover then sufferers are reliant on the state’s social services to help.

Critical illness can help in two ways, depending on the type of policy you choose, either by offering a lump sum payment or by paying a monthly benefit. Irrespective of the severity of the illness the policy will pay out, even if the illness was minor in severity and a full recovery was made. There is a list of clinically accepted critical illnesses for which these types of policy will cover:

This list is an example of the typical illnesses that are covered through critical illness insurance. These may very from company to company check the policy terms and conditions for an exact definition.

For more information please contact TTG