Critical Illness Cover

• Critical illness cover offers a tax-free lump sum payment if you are diagnosed with a specific illness or medical condition.
• It’s typically paid out to help with a range of serious illnesses, such as cancer, heart attack, and stroke, as well as other conditions such as multiple sclerosis and organ failure.
• The exact illnesses covered may vary depending on the specific policy, so it’s important to read the policy documents carefully.
• It can be purchased as a standalone policy or as an add-on to a life insurance policy.
• The lump sum payment provided can be used in any way you choose, such as paying for medical bills, covering living expenses while you are unable to work, or making modifications to your home to accommodate your condition.
• The cost depends on a range of factors, including your age, health, lifestyle, and the amount of coverage you require.
• If you are considering purchasing this type of financial product, it’s important to get a tailored recommendation for you and your circumstances
• It’s also important to carefully review the policy documents and ensure that the policy meets your specific needs, as policies may vary in terms of the illnesses covered, exclusions, and limitations.

• The amount you need depends on your individual circumstances, such as your age, lifestyle, and financial obligations.
• Consider how much you would need to cover any medical expenses, lost income, or other costs associated with your illness.
• It’s also important to consider any outstanding debts or financial commitments you have, such as a mortgage or loans, and how much you would need to pay these off if you were unable to work.
• You may also want to consider how much you would need to cover any modifications to your home or lifestyle that may be necessary due to your illness.
• Speak with one of our advisors to get an idea of how much coverage you may need based on your individual circumstances.
• It’s generally recommended to aim for coverage that is at least equal to your annual income, but again, this will depend on your specific situation.
• Keep in mind that the cost of your policy will increase with the amount of coverage you require, so it’s important to balance your coverage needs with what you can afford.

• The amount of coverage you require
• The length of the policy
• The cost of critical illness cover may also vary depending on the provider you choose and the specific policy you select.

It’s important to compare policies from different providers to find the best coverage at a competitive price.

• Keep in mind that the cost of your policy may increase if you have a pre-existing medical condition or engage in activities that are considered high-risk.