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Income protection insurance

continued from page 5
Critical illness insurance
Critical illness insurance usually pays a one off, tax free lump sum, if you are diagnosed with a specified critical illness covered during the term of the policy. The range and types of critical illnesses covered vary from policy to policy, so check this before you buy. You can choose both the length of the policy and the level of cover, although restrictions may apply.

Key pros and cons of critical illness insurance

Pros

  • It may be useful if you would like to protect yourself or your loved ones financially if you are diagnosed with a critical illness
  • It is up to you how you spend the money each month

Cons

  • Not all critical illnesses will be covered under the policy, so check before you buy
  • You are normally not covered for pre-existing conditions

Making a claim
For information on making a claim visit our making a claim section.

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