Critical Illness Cover
A Critical Illness plan will pay a lump sum of money in the event that you are diagnosed as suffering from a specified critical illness.
You can use this money to pay off your mortgage or other loans, adapt your home, Take a recuperative holiday, help make up a potential shortfall in your pension.
There are around 30 specified conditions covered by most providers of this type of protection including Cancer, Heart disease and Stroke.
It is estimated……
Cancer: 1 in 3 people in the UK will be diagnosed with cancer at some stage in their lives. There are over 200 types of cancer. (Source: MacMillan Cancer Relief 2006) Stroke: Stroke has a greater disability impact than any other chronic disease. Over 300,000 people are living with moderate to severe disabilities as a result of stroke. (Source: The Stroke Association 2006)
Heart Disease: Over 24% of all deaths in the UK in 2003 were caused by heart disease. (Source: British Heart Foundation 2006)
Critical Illness: 1 in 5 men and 1 in 6 women will suffer a critical illness such as cancer, heart attack or stroke before age 65. (Source: Friends Provident 2003)
Due to advances in medical science an increasing number of people who suffer from or contract these illnesses are now surviving for many years after the event.
Having a lump sum paid to you following diagnosis of a critical illness would provide you with options regarding returning to work full time, part time or not at all.
The level of cover required will be dependent on your personal circumstances taking into account continuing income, savings etc.