Critical Illness Life Insurance The Basics
Anyone under retirement age can take out Critical Illness Life Insurance providing they are willing to pay the monthly premium.
This type of insurances covers the policy holder if they are to fall ill with a serious condition or become permanently disabled. If the policy holder is diagnosed with one of the illnesses covered, they may make a claim and, if it is accepted, received a tax free payment which they can spend as they wish. The illnesses included under all Critical Illness Life Insurance policies include cancer, kidney failure and major organ transplant.
Some exemptions are made as to what claims will be accepted. There are a number of illnesses which are now not covered by this policy according to tightening of rules by the Association of British Insurers. Amongst these are non invasive skin cancers and lymphoma. Illness of injury caused by dangerous behaviours such as drug taking and criminal activity also void the policy.
Tags: Critical Illness Life Insurance
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