Critical Illness Cover is a type of insurance policy intended to support individuals and their children in the event of long-term illnesses.
This cover helps you protect yourself before a serious illness strikes and minimize the financial impact illness could have on your family.
Proceeds are paid out in a tax fee lump sum on the diagnosis of a range of 30+ life-threatening or debilitating conditions. Many are familiar like cancer, stroke, Parkinson’s disease. The areas of cover include brain & nervous system, senses, organs, auto-immune disorders, mental health, heart & circulatory system, cancer and children’s cover. Policies includes cover for heart attacks, strokes, cancer, and major organ transplants. Terminal illness is also included or an option when life expectancy is less than twelve months.
Critical Illness Cover is available as an “add-on” to Life Assurance, as a joint or stand alone policy. As with all protection products, Critical Illness Cover has a range of “add-ons” and options. There are several Critical Illness Policies with options that enhance your financial sustainability should you be diagnosed with a critical illness.