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  Critical Illness

Critical Illness

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 family.

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.

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