If you develop a serious illness, ie heart condition, cancer and the such, and your income reduces as a result then you would recieve funds from the insurance if you have Critical Illness Cover
This is a type of insurance cover which pays out if the policyholder gets a serious illness such as heart disease or cancer.
This can enable you to receive a cash lump sum on diagnosis, at the outset of a critical illness,minimising financial hardship and stress within your family.
An insurance policy which will pay out a lump sum if you are diagnosed with or suffer from any of the listed life-threatening conditions such as, cancer, heart attack, or stroke.
An insurance policy that is designed to pay out in the event of the diagnosis of a critical illness, the definition of a critical illness can vary from one provider to another (although most providers offer a similar definition), a list of illnesses will be shown in the Key Facts Document.
Critical illness cover will pay out on the diagnosis of a specified condition during the policy term. Many times this payout will be regardless of the level or speed of the illness recovery.
A type of cover which pays out upon diagnosis of one of a number of specified serious illnesses. So in the event of a heart attack this type of cover would pay out, and could repay a mortgage or be used to pay for the cost of conversion to a property or for convalescence. The illness does not have to be terminal for the claim to be paid. There are a number of core illnesses covered and they are- cancer, heart attack, stroke, kidney failure, major organ transplant. It has also been known by a number of other terms- serious illness cover, dread disease and is often now abbreviated to CIC.
insurance where a lump sum is paid out if you are diagnosed with a specific illness.
Personal riders on the basis of which parts of the sum insured which would otherwise only become payable on occurrence of death are paid out in the event of previously defined severe illnesses.
This insurance pays out if the holder is diagnosed with an illness covered by the policy.
Pays out a guaranteed cash sum sum if you're diagnosed with one of the critical illnesses covered by the plan.
If you are diagnosed with any one of certain severe illnesses (specified in the insurance policy), this cover will pay you a fixed amount - usually as a lump sum.
this type of insurance can be bought on its own or as an additional extra to your life insurance policy and will provide cover against the risk of you suffering a serious illness.
CIC): A form of life assurance that usually pays out a lump sum upon diagnosis of a serious illness. The lump sum can be set at a level to repay the mortgage.
An insurance policy that pays out a lump sum if you are diagnosed as having a serious debilitating illness, such as cancer, heart attack, or stroke. Not to be confused with private medical insurance which covers the cost of private medical care. For more information go to the Association of British Insurers web site ( www.abi.org.uk) which has a number of useful consumer guides.
Insurance which covers the insured against specified critical illnesses such as cancer, heart attack and multiple sclerosis etc. In the event that the insured contracts one of the specified illnesses, the insurers would pay a lump sum rather than an income as in the case of permanent health insurance.