This insurance policy covers you if you contract a long term or terminal illness. This could include cancer, heart bypass surgery, heart attack, kidney failure, a major organ transplant, multiple sclerosis or a stroke. Some conditions tend to be excluded from critical illness cover, such Mental Illness, HIV/Aids, Alzheimer's and Parkinson's, although these vary between insurers.
Critical illness cover payments are tax free and generally paid out in a lump sum. Payment is typically made once diagnosis of the condition has been confirmed. Premiums depend on gender, age, occupation and the amount of insurance required.
