LifeNow

Understanding Critical Illness ...

If you wish to receive a tax-free lump sum to cover your financial commitments in the event you are diagnosed with a serious illness, then you should condiser taking out critical illness insurance. The conditions typically covered by this type of policy include various cancers, brain tumors, heart attacks and strokes. In order for the policy to pay out, the illness will normally need to be severe enough that your death will be expected within 12 months of diagnosis or if you actually die within the policy term. The costs of critical illness policies are widely varied as different plans cover different conditions. You should check carefully what is being covered and compare different policies before chosing one that suits your needs.