Critical illness is similar to life insurance, but rather than paying out a lump sum on your death, it pays out on the diagnosis of one of a number of listed serious illnesses or injuries.

The cash sum is only paid out if the illness is diagnosed during the plan term and you survive for 30 days following diagnosis. It is often used by people to pay off some or all of their mortgage or to make adjustments to the house to help them cope following illness or injury. Others choose to spend it on specialist medical treatment or simply to go on a once in a lifetime holiday. It is entirely up to the individual what they choose to spend the lump sum on.

Many people want to protect their mortgage, and most mortgage protection policies allow you to include life cover and critical illness cover. You may prefer to buy critical illness cover as a separate policy, for example if you already have all the life cover you need.

It is important to remember that the name of each critical illness is only a guide to what is covered. For example, some types of cancer are not covered. The conditions usually covered by critical illness cover are:

1.Alzheimer’s Disease
2.Aorta Graft Surgery
3.Benign Brain Tumour
7.Coronary Artery Surgery
9.Heart Attack
10.Heart Valve Replacement or Repair
11.HIV/AIDS as a result of a blood transfusion
12.HIV/AIDS contracted in certain circumstances

13.Inability to perform duties of occupation
14.Kidney Failure
15.Loss of Limbs
16.Loss of Speech
17.Major Organ Transplant
18.Motor Neurone Disease
19.Multiple Sclerosis
21.Parkinson’s Disease
23.Third Degree Burns
24.Total Permanent Disability