What is Critical Illness Cover ?
Critical Illness Cover plans are designed to pay out a lump sum on death or on the diagnosis of one of the specified critical illness during the policy term.
This lump sum could be used to help repay a loan, mortgage, or perhaps pay for time off work or medical treatment.
Can My Children Be Covered?
Children and Infants Cover – Usually included within Critical Illness plans. Claims made do not affect the amount of cover given to the parent or policyholder.
Will it cover me if I become Disabled ?
Many Critical Illness insurance policies will also include cover for ‘total and permanent disability’. This pays out if you become unable to work due to permanent disability arising from any illness or injury (regardless of whether it is listed in the policy). If such cover is included, it is important to establish whether the policy will cover “any occupation” or “own occupation” . Generally cover is more expensive if the plan is written on an “own occupation” rather than “any occupation” basis.
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