Critical Illness Cover (CIC)

Critical Illness Insurance will pay the policy holder a lump sum on diagnosis of one of a specified illnesses – the illnesses covered vary but generally include the major illnesses like cancer, heart attack and stroke to deafness, loss of limb or loss of sight.

The Lump Sum can be used however you like but is often used to repay or reduce the burden of a large debt (like a mortgage) or even pay for household bills and cover potential medical expenses.

It can be combined with a Life Assurance Policy so that a lump sum is paid out in the event of death or earlier diagnosis of a critical illness of the policyholder.

Why do you need it

Advances in medical science mean that more people are now surviving serious illness. While this is good news, many people are faced with the realisation that they may not be able to return to work, or indeed, wish to.

Critical Illness is similar, to Life Insurance with the difference being the insured person is still alive.