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Life Events: if I become seriously ill
— what is the best way to deal with this?
Critical illness cover pays out a lump sum if you are diagnosed within the term of the policy with a critical illness that meets the policy's definitions. It can be a stand-alone plan, or linked to a life assurance policy.
The average age of claimants is around 40
The big five causes of a claim are cancer, heart attack, multiple sclerosis, stroke, heart surgery
While some conditions may be more prevalent in males than females, smokers and non-smokers, critical illness in general does not discriminate by age, gender or occupation.
Research by Macmillan Cancer Support showed that —
- 6% of people diagnosed with cancer have lost their homes
- 18% have a problem making mortgage payments.
- a huge 91% of homes affected by cancer suffered a loss of income and increased cost due to the disease. Travel costs were a large outgoing for many sufferers.