Critical illness cover (CIC) is designed to pay a lump sum on the diagnosis of certain debilitating qualifying conditions such as a heart attack, stroke, types of cancer, multiple sclerosis etc.

The illnesses covered will be listed in the policy documentation along with any exclusions and limitations.  Not all insurance companies cover the same illnesses and often not to the same degree. CIC policies can be used to provide a lump sum to pay off a mortgage, whether repayment or interest only, or provide the funds required to adapt a property for disabled use.  Indeed the proceeds can be used for any purpose.

CIC is not to be confused with or used as a replacement for Income Protection Cover as it pays out (usually) only once whereas Income Protection provides a regular income.

CIC can be issued on a decreasing or level basis with guaranteed or reviewable premiums and different providers may have varying options.  As a result it is advisable to seek advice from a suitably qualified professional.

For more information and a personal quotation click the link below.