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Critical
Illness Protection - the logical solution
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1
in 3 people in Britain
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will be diagnosed
with cancer at
some point in their life
(Source: Imperial
Cancer Research Fund 1999)
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type of protection is also known as 'dread disease cover',
and is essentially insurance that pays out on the diagnosis
of certain specified critical illnesses. Most policies
will pay out following the diagnosis of heart disease,
stroke, renal failure, cancer, paralysis, major organ
transplant and coronary artery bypass surgery. Over
recent years, the range of diseases covered by a typical
policy has increased to more than 30.
A tax-free payment
The benefit is typically paid out in the form
of a one-off lump sum, which is tax-free. The payment
will generally be made within 28 days after the diagnosis
of a serious illness. If such an event were to occur,
the one-off payment would provide you with the opportunity
to protect your quality of life.
Could you afford to survive?
For some people, there is a fate worse than death
- the survival of a major illness or accident followed
by years of failing health. And with rapid medical
advances, the chances of surviving a major illness
are greater than ever.
The financial consequences of serious illness can
be massive. A critical illness policy can therefore
provide a welcome financial boost at a time of great
emotional stress and financial hardship.
It could never happen to me!
The plethora of statistics supporting the need
for insurance cover against serious illness is overwhelming.
According to the Imperial Cancer Research Fund (1999),
one in three people in Britain will be diagnosed with
cancer at some point in their life. Indeed, 750 people
are diagnosed as suffering from cancer every day,
with two in five of these people surviving the disease
for at least five years.
There are few people who would not benefit from critical
illness protection. Ask yourself the question: 'If
today I was diagnosed as suffering from a serious
illness, would it turn me from being independent to
becoming reliant on my friends, family or the State?'
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If you
do not currently have critical illness protection
or would like to review your existing arrangements,
please E-mail
, use our advice
request form, or contact us on 08000 151613
today.
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| The Financial Services Authority does not regulate some types
of critical illness products. Unless linked to
an investment vehicle, these policies will not
acquire a surrender value and will lapse at the
end of the term with no value. Levels and bases
of, and reliefs from, taxation are subject to
change. |
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