Critical Illness Life Cover - Summary
- Designed to pay out on diagnosis then claim & survival of specified Critical serious illnesses
- Common Critical Illness Life Cover plans includes cancer, heart attack, stroke, diabetes, MS, kidney failure
- Can be in sole or joint names
- Benefits are currently paid out tax free on claim
- Designed to pay out as a lump sum or income on diagnosis
- Usually has no surrender cash in value at any time.
- Medical evidence may be required and a medical examination for those with health issues
- Premiums may be guaranteed or reviewable
- Waiver of Premium (where the Insurer waives/protects & covers your premiums after a deferred period of 4/8/13/26 weeks due to sickness or accident)
Each Critical Ilness life cover policy is designed for covering particular illnesses, some more than others; you may wish to carefully examine the policy wording before committing to one policy or seek professional advice.[Note the rules changed in April 2007 re Critical Illness Life Cover terms designed to help simplify matters.
Note that some multi-plan policies and income protection policies have a Critical Illness Life Cover option which you can add onto the plan. |
Rates at 4/02/2012 
UK consumers. Any information contained