PROTECTION – Critical Illness

Critical illness insurance normally pays a lump sum if you are diagnosed with one of a number of specified 'critical' illnesses during the term of the policy. There may be a requirement that you survive for a period of 28 days following the date of diagnosis for the policy to pay out, as the policy is intended to cover living expenses.

You could use the cash payment from a policy either to pay off debt (such as a mortgage) or to provide you with an income if you become too unwell to continue working.

It is common for a critical illness policy to be combined with a life insurance policy to provide two types of cover. If you decide to purchase one of these combinations you should bear in mind that you will only be able to claim if you contract an illness, as defined in the terms of the policy, and you may lose the life cover element unless you have bought additional life cover.

To talk to one of our advisors, call 0800 3893345 or email info@city-financial.co.uk