Receive a cash lump sum to give financial breathing space if you suffer a critical illness.
According to Cancer Research UK, by 2020 1 in 2 people will be diagnosed with some form of cancer during their lifetime, but cancer is just one of a number of conditions that are covered. Legal & General for example, cover 42 different conditions (Oct 2017).
The good news is that with medical advances, you’re more likely to survive a critical illness, but also likely to need prolonged periods off work for treatment and recovery. Therefore, surviving an illness will often come at a cost.
Mortgage or rent payments, childcare costs, council tax, food and utility bills still need to be paid. Plus, there are likely to extra things to pay for like medication or adaptations to your home or vehicle, all at a time when you are likely to experience a long-term drop in income.
There’s enough stress dealing with a diagnosis, and what it means to your life. Don’t add in a financial headache too!