You can take out a critical illness insurance policy in one of two ways. The first method is as a 'stand alone' policy, taken out by itself. Alternatively, you can add it to a life assurance policy. This will offer you a way of receiving a lump sum not just on death, but also on diagnosis of critical illness, which has the same effect as death on your ability to support your dependents.
The premiums for a critical illness insurance policy are determined by factors such as your age, your family history (as most critical illnesses are hereditary), whether or not your smoke and the level or cover you require.
