There are 3 types of cover you should consider taking. You’ve probably heard about life insurance and income protection policies. But what about critical illness cover? If you hear about it for the first time, don’t worry – this guide compiles everything you need to know. Keep on reading to learn more about critical illness cover.
What is it?
Critical illness cover is a type of insurance that pays out if you’re diagnosed with one of the critical illnesses or conditions listed in your policy. The insurer is contracted to pay a tax-free lump sum, which can help you significantly, especially if the diagnosis is unexpected.
How does it work?
On buying your policy, you’ll agree to pay a monthly amount, known as the
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