This can take many forms, from protecting youself against a debt you want repaid on your death, creating a legacy for your loved ones should the worst happen, to maintaining an income should you be unable to work through no fault of your own or being diagnosed with a critical illness.
Usually written in trust and taken out to protect a loan or debt you want repaid on your death. It can also be used to maintain a standard of living for a loved one or dependant. You can also take a type of life cover out to cover Inheritance tax liabilities on your estate.
To give you a lump sum payment on diagnosis of a defined critical illness. This can be used for a variaty of purposes, from settling a debt, paying for private medical fees thereby bypassing the sometimes long waiting lists via the National Health system, paying for a much needed emergency operation. Or you could invest the proceeds ensuring a continued income whilst incapacitated.
Critical Illness Cover
Designed to maintain a percentage of you income should you be unable to work through no fault of your own It will continue to give you an income until the earlier of you returning to work, the end of the chosen plan term or you die.