Critical Illness Cover is an insurance contract that pays out a tax free lump sum (under current legislation, tax year 2016/2017) or monthly income should you be diagnosed with a specified Critical illness during the policy term. Critical Illness Cover can give you and you family some peace of mind and help you cope financially if you became Critically ill.
The policy is underwritten on your medical history at the time of application. As you would expect, not all Critical Illness policies are the same. Standard policies will typically cover the common Illnesses people suffer from, such as Major Heart Attack, Kidney Failure, Multiple Sclerosis and specified set of Cancers. The actual range of illnesses and conditions covered, as as well as other policy benefits can vary from insurer to insurer.
For example some Critical Illness policies can offer Children Cover, which pays out an additional lump sum if any of your children are diagnosed with a specified Critical illness.
Another benefit some insurance providers offer at no extra cost is a second opinion when you are faced with a medical problem. This benefit in effect gives you access to over 50,000 medical specialists around the world. The process starts with your medical information being gathered, analysed and then you are allocated the most appropriate expert. They will then confirm diagnosis and recommend treatment.
At Gatehouse insurance we can help you to consider your different options.
For further information, please contact us