Critical illness cover plans are growing in popularity
as medical science and technology today can save lives
far more readily than thirty years ago, when cancers
and strokes were virtual death sentences.
Such serious illnesses may leave us unable to work
again, so how do we survive financially? Traditional
life insurance pays out on death, not if you survive
but are physically or mentally impaired. Critical illness
insurance policies cover an individual for life or for
a set period against a number of serious illnesses,
diseases and medical conditions. It pays out a single
tax-free lump sum on the diagnosis of one of the illnesses
specified in the policy details. The most common illnesses
or diseases that are included in a policy of this sort
are:
