Critical illness cover

If you’re worried about how to pay the bills should you become seriously ill, critical illness insurance can help. Like life insurance it works by giving you a tax-free lump sum when you are diagnosed with one of the conditions covered by the policy. Not everything is covered, so it’s really important to understand the detail of any policy and check the list of which illnesses are covered.

While your employer may pay you if you are sick for a few days or even weeks, many put limits on the time you can be off work. A serious condition such as cancer can need months of treatment and your employer may not be able or willing to carry on paying your salary.

There are some state benefits available for anyone who cannot work for a long period of time but they may not be enough to cover you and your family’s costs. For a small monthly cost you can buy some peace of mind and know that you won’t be worrying about the household bills when you are trying to get well.

Critical illness quick facts

• Flexible amount of cover
• Cost of policy spread across policy term
• Illnesses covered by policy are specified
• Flexible term
• Pays out tax-free cash sum on diagnosis