Critical Illness
There is little doubt that diagnosis of Critical Illness or severe disability will result in both the sufferer and his family enduring a physically and emotionally difficult period. The financial consequences of suffering a critical illness could be far more significant than the financial consequences of death. Critical illness will provide payment of a lump sum benefit upon a diagnosis of specified medical conditions.
The main illnesses covered are cancer, stroke and heart disease. With a quarter of a million people developing cancer each year, 275,000 people suffering heart attacks and 100,000 people suffering strokes, the facts speak for themselves.
Critical Illness cover has been one of the most successful product innovations in the UK life assurance market in the last ten years. Initially the cover was offered as an optional rider on a life policy. We have since seen the emphasis change so that critical illness is a mainstream plan covering specific needs where any life cover may be considered incidental. The benefits from a critical illness policy can therefore be very welcome.
Hannover Life Re (UK) considers critical illness to be one of its prime areas of expertise and has particular experience in tailoring solutions to suit a client’s financial needs.
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