Critical Illness Cover: A Guide

What are critical illness policies?

Critical illness policies usually pay a tax-free lump sum if you suffer from one of the illnesses or conditions, or have one of the surgical procedures (collectively known as the ‘critical illnesses’) covered by the policy.

You should not confuse critical illness cover with other types of health insurance such as:

  • Private medical insurance which pays for the cost of private medical treatment; or
  • Income protection insurance which pays you a monthly income after you have been unfit to work (because of sickness or accident) for an agreed period. The income continues until you are fit to return to work or the policy ends.

This document is reproduced with the permission of ABI – The Association of British Insurers.

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