Thanks to improved healthcare, you are
more likely to survive a serious medical
condition than ever before. However, you
would have to adjust your lifestyle to suit
your new circumstances. Critical illness
cover can enable you to receive a cash lump
sum, upon diagnosis of specified illnesses,
at the outset of an illness, minimising
financial hardship and stress within your
The main illnesses that are covered are
cancer, heart attack, kidney failure, stroke,
multiple sclerosis, major organ transplant
and coronary artery bypass surgery. There
are a number of extra illnesses that can
be covered. With some companies the extra
cover comes as standard and with others
they come at an extra cost.
Total and Permanent Disability - this is
a little like having an umbrella that picks
up conditions that are not covered elsewhere.
A disability which means that, in the life
company's reasonable opinion, the life assured
is, through illness or accident arising
or occurring before his or her 60th birthday
totally and irreversibly unable to carry
out all the tasks involved in the gainful
occupation shown of the application form.
Many of the above points concerning the
different types of term assurance and whole
of life apply to critical illness as well.
This means you can have decreasing term
assurance, level term assurance, increasing
term assurance and whole of life policies
with critical illness.