Critical illness cover can ensure you have enough money to cover bills and expenses if you suffered from one of a range of illnesses or are diagnosed with a terminal illness.

It could also provide cash to pay for treatment not available on the NHS or take a trip of a lifetime.

Critical illness insurance pays out a lump sum on diagnosis and survival (usually of between 14-28 days) of illnesses like cancer, heart attack, stroke and multiple sclerosis. It also covers other less common conditions, along with permanent disability. This can be invaluable to repay your mortgage or allow you the financial space to take time off work or make provisions for the future. It is worth taking advice on which is the most appropriate company for you as their terms vary. Some products also pay out on other medical conditions, and some can pay out multiple times.

Note: sometimes policies do not pay out. The most common reason for this is that the client has not declared all the relevant information at application stage. So, if you are setting up a plan make sure you provide all the possible personal medical and family medical history.

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