UK Critical Illness cover |
UK Critical Illness cover
Many people did not think that a serious health illness can lead to leave them with a disorder or a long term form of deformity. That is exactly why UK critical illness cover helps the people suffering from one of the 35 specified illnesses by providing some financial help by paying the cash of lump sum amount tax free.
People of age between 18 and 59 and who live in UK can avail the facility and apply for the cover and it will last upto the age of 70. If you have children aged below 18 and facing any one of the specified illnesses, no extra charge will be taken. When one decide to apply for it and stay peacefully, can apply by paying little amount or as much as he can afford.
Critical illness cover offers a flexible cover with three types according to the need like Level term cover, Mortgage Protection term cover, Renewable term cover. Level term cover is a direct lump sum advantage for a definite period of time ranging from five to forty years.
Mortgage protection term cover works on fixed number of years to overlap with the outstanding period of mortgage. Renewable term cover is renewable after every 5 or 10 years of fixed lump sum amount. Apart from this critical illness cover also offers policies on single and joint life basis. If a specified disability is diagnosed, the sum insured is paid back provided it should be during the time of terms and conditions of the policy.
If one has not suffered from any illness till the end of the term, the policy ceases out and no amount is paid at the end as it has nil cash in value.
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