Critical Illness Insurance will pay a cash lump sum if you are diagnosed with a specified critical illness, typical policies cover around 20 illnesses including some forms of cancer, heart attack and stroke. Some policies will also offer lump sums for fractured or broken bones.
Individual providers’ key features documents will list specific illnesses covered and not all providers use the same definitions for each illness.
- Cardiovascular diseases are the UK’s biggest killer.
- In England, death rates from heart attack have halved since 2002.
- There are around 150,000 incidents of stroke every year in the UK.
Source: British Heart Foundation, Coronary Heart Disease Statistics 2012 edition.
“Breast cancer is the most common cancer in women in England. In 2010, 41,259 new cases were diagnosed, an increase of 1.8 per cent (731 cases) compared to 2009. There were 126 new cases per 100,000 women in 2010, compared with 125 new cases per 100,000 women in 2009. These incidence rates have increased by 90 per cent between 1971 and 2010.”
Source: Office for National Statistics, Breast Cancer: Incidence, mortality and survival released Sept 2012
To protect you and your family it is important you take out the right sort of protection and this needs the right sort of advice. For further information and advice or to arrange a consultation please contact us.
Life insurance plans typically have no cash in value and will cease at the end of the term. If premiums are not maintained then cover will lapse.