Critical Illness
What is a critical illness?
A critical illness is a serious or terminal illness or condition. Things such as:
- Alzheimer's Disease
- Brain tumor
- Cancer
- Coma
- Coronary artery by-pass
- Creutzfeldt-Jakob disease (CJD)
- Heart attack
- Kidney failure
- Loss of a limb, sight, speech, hearing
- Major organ transplant
- Multiple Sclerosis
- Motor Neurone disease
- Paralysis
- Parkinson's disease
- Permanent total disability
- Stroke
What is critical illness insurance cover?
This is insurance cover that will pay out of you suffer a critical illness. Policies vary, and may not include all the above illnesses or situations, but you need to check the policy details to find out.
Why insure against critical illness?
Most people in the UK understand life insurance, to protect their families should the unthinkable happen. But should you not die, but become incapacitated as a result of becoming seriously ill, how will you or your family pay the bills then? Your insurance cover will of course only pay out if you actually die. Yet statistically below the age of 65, you're several times more likely to get a serious illness than to die. Critical illness cover is designed to help eliminate the financial stress that serious or terminal illnesses can bring.
In the event of serious or critical illness, people often suffer severe emotional stress as they have been diagnosed with such an illness - they go through major trauma, and their families go through it too. But there is also often financial hardship, because the ill person cannot continue to work, and therefore cannot cover living expenses, mortgage payments or pay for the medical care they need throughout their illness. A critical illness policy can remove this worry and make sure that you and your family are well provided for financially, just when you least need to be worrying about it.
Basic or comprehensive policies exist for critical illness, and comprehensive cover will obviously cover more illness and medical conditions than a basic policy.
Explore Finance can get you a quote for critical illness cover quickly and easily by going to our providers and getting you the best deal possible. Apply online for a quotation.
