Nobody likes to think that they might be struck down by a serious illness in the future. But if this were to happen, extra financial protection could be vital. Here are some of our clients' most frequently asked questions on this topic.

Q: What is critical illness cover?
A: Insurance that pays out on the diagnosis of, usually, one of the six core specified critical conditions.

Q: What medical conditions are covered?
A: The illnesses covered vary from policy to policy, but typically include: cancer, heart attack/coronary bypass surgery, kidney failure, major organ transplant, multiple sclerosis and stroke.

Q: After diagnosis, how soon would a benefit be paid?
A: Generally within 14 days of a specified illness being diagnosed. However, this varies depending on the specific insurer.

Q: Are benefit payments taxable?
A: No, payments are completely tax free.

Q: What could I use the benefit payments for?
A: The choice is yours. For example, you may wish to repay an outstanding mortgage, clear other liabilities or pay for additional medical treatment.

To find out more about critical illness cover and to see how you could benefit, please e-mail or contact us for further information.

(article date 03/2003)