Critical Illness
This policy is designed to pay a lump sum to the policyholder if he / she is
diagnosed with one of the covered serious illnesses.
While most terminal illnesses are covered within these types of policy some
illnesses which are covered do not necessarily have to be terminal to be
claimable.
The idea of this sort of policy is to provide the policyholder with a lump
sum at a time when they may need it most and may be experiencing higher than
normal costs because of the illness they are suffering.
Obviously the list of illnesses covered will vary between companies and
Taylormade Financial Solutions will advise you on the best policy to suit your
individual requirements. Typical types of illness that are covered will include
:
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Some forms of Heart Attack
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Stroke
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Most forms of cancer
-
Major organ transplant
Other benefits such as payment of a sum assured on death or disability cover
may also be included with these sorts of policy and the good news is that
benefits from a serious illness contract are tax free.
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