CRITICAL ILLNESS COVER
Critical Illness cover, is a insurance policy taken out to provide financial protection against certain serious illnesses. Should you be diagnosed with one of the listed conditions, it pays a tax-free lump sum, to help pay for rent, mortgage, alterations to you home, however how the money is spent is down to you. It helps to take away the fear of how you can afford to live, when certain serious illness occurs.
The types of illnesses covered vary from provider to provider, and not all conditions are covered.
Should you be unable to work due to illness or an accident, an Income Protection policy can help you, when state benefits would not be enough. Income Protection (IP) is an insurance product, designed to provide you with an amount of income should you be unable to work, or return to work at your previous level. IP allows you to focus on getting better, knowing that you are receiving the benefit. Policies usually pay around 50 – 60% % of your regular income during the time that you are unable to work, and should you return to work, but in a lesser capacity, then the policy could also top up your income.
The length of time cover is provided and the amount of cover, varies depending on your needs.
PRIVATE MEDICAL INSURANCE
Private Medical Insurance (PMI) allows you quick, private treatment when you need it. If you suffer from an acute condition; such as an illness, disease or injury, PMI pays all – or some – of your medical bills, if you are treated privately. PMI gives you a choice in where, how and what type of care is provided.