Critical Illness Insurance in general

I stumbled across this category by chance and couldn't resist writing about it. That might tell you something about the sort of person I am! History Critical illness insurance has roots back to South Africa and was introduced into the UK in the late 1980s. It was commonly known as "dread disease" or "serious illness" cover before settling as critical illness cover (CIC). What is it? It is a policy of life assurance (a protection or term assurance) which pays out a sum assured on the diagnosis or first suffering of one of a number of medical conditions/disabilities listed in the policy conditions. It can be ...  Read the complete review

I had never even heard of Critical Illness until a few months ago when we went to arrange a remortgage and the advisor started to ask questions about how we would cope if either myself or my boyfriend sufferred a major illness like a heart attack or cancer which was not fatal but impacted on our lives. We have always had life cover on the mortage incase either os us dies so the other is not left with a debt but had not considered anything like this happening after all things like a stroke can leave you paralysed and in both our cases any major illness would leave us out of work and having to swap careers. The idea of the policy is that you select a level of ...  Read the complete review

Critical illness is an insurance product, quite like life insurance except that it pays when the life assured is diagnosed of any one of the critical illnesses stipulated in the policy. The purpose of a critical illness policy is to cushion any financial hardship a person would experience in the event of a serious illness. Unlike here in the UK where healthcare is free, critical illness insurance is especially useful to people living in places where they have to pay for medical care. Critical illness insurance is supposed to help as an income replacement in the event of a critical illness, pay for additional costs of treatment like specialists ...  Read the complete review