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What is it?
Should that be a situation you're faced with in life, not having to worry about your finances could make your recovery a lot smoother, and you shouldn't be worrying about work or your mortgage if you're worrying about your treatment and prognosis.
A Critical illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. It can be added on to a life assurance policy as an additional benefit but can also be a standalone plan.
This type of plan is designed for those individuals or families whom would benefit from the relief of a lump sum if they are diagnosed with a serious illness. As an example of where this lump sum could be used is to repay a loan, mortgage, or perhaps pay for time off work. The lump sum could even be used to pay for any necessary alterations to your home, or for private treatment. It would be your choice to make.
The quality of cover and the illnesses covered can vary significantly between different providers. As Independent Advisors we can help you find the plan that best meets your requirements.
As with all insurances, conditions and exclusions will apply.