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Critical Illness

Critical Illness Cover is exactly as it sounds - an insurance policy that pays out if you have a specified serious illness.  It gives you choices, such as making any necessary adaptions to your home, paying off debt, replacing lost income or providing for those you support.

critical illness coverCritical illness can be described as life insurance for those who don’t die.  Health worries are the biggest threat to peace of mind, but they can be horribly compounded with financial concerns.  Receiving a capital lump sum on diagnosis of a critical illness often relieves the immediate financial stress and paves the way to a speedier recovery.

Being diagnosed with a critical illness is a moment in life you hope will never happen, yet for many this nightmare becomes reality. A critical illness affects every aspect of your life, from your personal relationships, to your day to day hobbies, to your income. While insurance can’t help with all of these effects, securing your finances greatly improves the situation.

Unlike other policies (for example, Income protection), critical illness insurance provides a lump sum payment in the event of critical illness diagnosis. This allows you the flexibility to choose to repay debt, and/or maintain financial commitments already in place.

Financial implications of a critical illness

Many don’t consider the financial implications of a critical illness. Mobility may be affected, rendering stairs impractical and driving difficult. Private healthcare may move from a luxury to a necessity. You may have to change employment, or stop working entirely. The financial burdens will not only increase, but the means to pay them will dramatically alter. A lump sum payout in the event of a critical illness would offer the peace of mind that these scenarios will be met from a position of strength.

If you would like to speak to an LGBT-friendly adviser about critical illness cover or any other financial matter, please enter your postcode under the map on your right to find an adviser near you.

Additional Reading

  • Can I get Life Insurance Cover?

    Have you ever wondered whether you can get life insurance cover? Why not check out our quick guide to find out more
  • Types of Life Insurance Cover

    Did you know there are several different types of life insurance? Read our guide to find out more.
  • Life Insurance - The Basics

    Life insurance is there to cover you in case of death or terminal illness. Make sure your life cover is adequate and those you leave behind will be financially secure.
  • Long Term Illness

    Read about how you can reduce the financial impact of sickness with long term illness insurance. We can put you in touch with LGBT-friendly financial advisers to discuss your options. i
  • How Much Life Cover

    Why not find out how much life cover you need and can apply for. Life insurance can help protect you and your family so get the amount right.

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