With advances in medical care more and more people now survive illnesses once thought to be fatal. Benefits are usually paid out dependent on the severity and type of illness. A full list will be provided together with a written quotation. Many people will go on to lead a relatively normal life, but they may not enjoy the same mobility or good health that they did. This could affect their ability to work in the same capacity as they did before which could leave their home at risk if they cannot meet the mortgage payments or require care.
A Critical Illness policy could provide you with an amount of money (Sum Assured) if you are diagnosed with a specified Critical Illness. This money can be used to repay your mortgage, help towards cost of care or provide long term security for your family. This type of policy can be arranged on a Level Term and Decreasing Term basis. It can also include Life Cover too. These policies have no cash in value at any time and require underwriting prior to being agreed.