Currently, around 5 million people in the UK have critical illness insurance policies. Critical illness cover is a policy, which offers financial support in the event of a patient being diagnosed with a critical illness. Many people take out critical illness cover as an additional policy to their life insurance or mortgage plans. Some plans also offer a payout in the event of death.
Many critical illness policies now provide cover for over twenty different serious illnesses but all policies should cover seven core illnesses; these include major organ transplants, heart attacks, coronary heart bypass surgery, cancer, kidney failure, strokes and multiple sclerosis. Every insurance provider is different so it is best to check the policies in detail before you choose which one to take out; nowadays you can compare different companies and policies online using comparison websites and this will give you a better idea of what you can get for your monthly payment. Remember to read the information carefully as there may be restrictions and limitations which may not appear obvious.