Critical Illness Policies

Critical Illness policies pay out a large lump sum if the individual is diagnosed with a life threatening condition. Tax is not payable on the payout. The individual can use the lump sum for whatever reason they choose. The policy may not pay out on all forms of cancer and the individual should therefore check their documentation or with the company for further assistance. A successful claim on a critical illness policy will almost certainly alleviate financial difficulties and it is therefore important to check eligibility under any such policy.