Tell me a bit more about critical illness insurance ?
Critical illness insurance is a protection plan that is designed to pay out a lump sum if you are diagnosed with one of a number of pre determined critical illnesses. This is often combined with life insurance and can offer the complete protection package.
The main critical illnesses that are paid out are cancer heart attack and stroke. The most popular claim being cancer, this is especially true for females. A close second is heart attack, a heart attck is the most claimed on policy for a male. With stroke being in third place again the most popular for a male. There are also of other critical illnesses covered by the individual plans.
The good polices have 40 critical illnesses covered and the not so ones cover up to 27 conditions. Critical illness polices can be either taken on a guaranteed basis or a reviewable contract. The reviewable ones will have the premiums looked at every 5 years and they could go up down or remain the same. The guaranteed premiums are guaranteed to remain constant throughout their full duration.
Tags: critical illness, critical illness cover, critical illness insurance