1. Private medical treatment
2. Necessary adaptations to your home
3. Covering the loss of income if you are no longer able to work
4. Enjoying with your family, such as a holiday.

How does critical illness cover work?

Generally speaking, there are two types of critical illness; combined cover and standalone cover.

Combined cover is when a critical illness element is added to a life insurance policy.

The two must be taken out simultaneously and as a result, you only pay one monthly premium.

Whilst this is usually cheaper compared with having two separate policies, it does mean that the policy will only pay out once.

Therefore, if you make a claim when diagnosed with a critical illness, your policy will expire and you will be left without life insurance.

A standalone policy, on the other hand, involves paying for a separate critical illness policy.

This can run alongside life insurance cover or be your only layer of protection.

Either way, if you are diagnosed with a critical illness, you can make a claim and any other forms of cover you have will remain intact.