Critical Illness Cover

What is Critical Illness Cover?

Critical Illness Cover is a policy which pays out a lump sum (the insured amount) in the event of a specified illness or injury. There are a number of serious illnesses or injuries which are covered by most providers. A lump sum will be paid out in the event of you being diagnosed with a specific illness or injury

Why do I need it?

As a medical professional you frequently see the impact that critical illness can have on a person’s life, and how ambitions can become distant memories instantly as a result.

What would you do if you could not work due to critical illness?

Being in the medical profession you have better insight into the devastation that can be caused by a critical illness. It may not be a priority at the time but bills still need to be paid, and you would be expected to meet your financial obligations. Unlike income protection, which pay’s a regular income, Critical Illness will pay out a cash lump sum.

As a result of illness or injury you may need to make adjustments in your home to help you cope, or you may want to pay off some of your mortgage to reduce your monthly costs. This money can be spent how you like, without any conditions

Considerations?

Like most policies it is important to know that you are covered and the policy will pay in the event of a claim. Different providers cover different illnesses. Cover can also depend on the severity as well as the definition of an illness

MIAB are in a unique position as we understand your needs as medical professionals, and can advise the most appropriate cover to suit your individual needs and circumstances.

 If you would like to know more about how The Medical Insurance Advisory Bureau can help you with this, please complete our online enquiry forms and one of our associate advisers will contact you. Alternatively you can call us on 01438 730210.