CRITICAL ILLNESS INSURANCE
A critical illness plan pays a tax free lump sum
if you are diagnosed with a specified medical condition, or become totally and
permanently disabled during the term of a policy. The plans we recommend would
also pay benefits in the event of total and permanent disability that results
in you being totally and permanently unable to work in your own occupation, as
opposed to any occupation, even down to your professional speciality. 
Most of us accept that we ought to consider the
implications of a critical illness or disability, particularly if we have
dependents or run our own business. We go on until the unthinkable
accident or illness occurs and we suddenly realise we're unable to pay for
things we may need:
- a holiday or extended
period off work in which to recuperate;
- home improvements;
- carer for the family;
- pension provision
- existing financial
commitments, e.g. mortgage, school fees etc.
Modern medicine is great at saving lives but it
cannot protect you from the financial implications of being diagnosed with a
critical illness. These can be devastating - both for your family and your
business. Critical illness insurance alone will not repair the damage to your
health or your personal finances in the event of being incapable of working.
However, it can relieve some of the financial pressure, providing you with
access to time for rehabilitation.
GUARANTEED & REVIEWABLE PREMIUMS
Protection policies including Income Protection
and Critical Illness cover have the option of guaranteed or reviewable
premiums.
Guaranteed policies
The premium you pay stays the same throughout
the term. The only way the premium will increase is if you increase the amount
of cover.
Reviewable policies
These policies are reviewed by the provider
after a specified number of years, usually 5 years. Generally, these polices
may start off cheaper than guaranteed policies however, there is a chance the
premium will increase dramatically as the policy progresses.