 More questions about Critical Illness insurance, answeredHow much will the lump sum from a Critical Illness insurance policy be?It's up to you to decide what kind of lump sum you'll need and your premiums will reflect the size of the payout. The best way to decide how much you'll need is to consider what your expenses would be if you were diagnosed with a critical illness that could force you to stop work or make major changes to your home or lifestyle. It also depends on what other financial provisions you've made. For example, if you already have Permanent Health Insurance, also known as Income Protection, that gives you an income, you won't need your Critical Illness payout to live on. However, you might want to use the money to pay off your mortgage or other large debts, pay for specialist treatment not available on the NHS, make alterations to your home such as a ground floor extension, if you become disabled. It's worth noting that many insurers have an upper limit of £150,000 for the lump sum. Do I have to pay back the money from my Critical Illness Insurance if I get better?No. The cash sum is yours to keep, even if you make a full recovery, but if you die in the 14 -28 day period that most policies specify after the diagnosis of a critical illness, the cash sum won't be paid. However, if you also have a separate or combined Life Insurance policy, you or your dependents would receive the money in either event. What more do you need to know about Critical Illness Insurance?If you've got any further questions about Critical Illness Insurance, call us on 0800 068 5801 and we'll be happy to help. Alternatively, you can look up our Wordfinder for a no-nonsense explanation of the terms used in the financial services sector. Get a quick Critical Illness Insurance quoteFor a fast, no obligation quotation for Critical Illness insurance, just click here to fill in our quick critical insurance application form and our team of brokers will search for the best quote for you, which we'll send you by post. More Information on Critical Illness InsuranceCritical Illness Insurance with All About Insurance Your questions about Critical Illness insurance, answered |
 
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