Critical Illness

Critical Illness insurance

It's when you need to make a claim that you realise just how wise investing in a critical illness policy can be.

Considering just how many lives are affected by critical illnesses such as heart disease, cancer and stroke, it is surprising that more people do not take out critical illness insurance.

The principle is straightforward; in the event of one or more of the specified illnesses being diagnosed, the insurance company will pay out a lump sum after a specified survival period. Often, critical illness cover is combined with other types of insurance and may even provide an investment element so that, for example, a given sum will be paid out on the death of the insured.

Note - Critical illness policies should be checked as only some forms of cancer, heart attack and stroke are covered by this type of insurance.

IF THE POLICY HAS NO INVESTMENT ELEMENT THEN IT WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

CRITICAL ILLNESS PLANS MAY NOT COVER ALL THE DEFINITIONS OF A CRITICAL ILLNESS. THE DEFINITIONS VARY BETWEEN PRODUCT PROVIDERS AND WILL BE DESCRIBED IN THE KEY FEATURES AND POLICY DOCUMENT IF YOU GO AHEAD WITH A PLAN.

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  Wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation and investment risks. ...
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  All businesses are exposed to risks in their day-to-day operations. Without insurance cover to provide protection against some of these risks, businesses would find it difficult to operate ...
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Harmony Wealth Management Ltd is Authorised and Regulated by the Financial Conduct Authority.

Harmony Wealth Management Ltd is entered on the Financial Services Register (www.fca.org.uk/register) under reference 713818.

The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

Critical Illness