What is Criticall Illness cover?

Critical Illness cover is designed to pay a lump sum in the event of diagnosis of a defined critical illness such as heart attack, stroke, cancer, etc. which is generally used to repay the outstanding mortgage.

The conditions covered by a typical Critical Illness policy are the kind of serious conditions that are likely to keep you off of work for some time which can result in financial hardship for most people. The Critical Illness benefit could be used to repay the mortgage entirely thus getting rid of you biggest financial commitment, or you could you use some of the money to pay for private treatment giving you a greater chance of survival.