Critical Illness Cover
Critical insurance policies are designed to pay out a lump sum on diagnosis of a specified critical illness. These policies can be taken out in the same way as life cover. Either decreasing or level term. It can be taken out purely on its own or as part of a life cover policy.
With a joint Life & Critical illness policy you will be covered for both events but paid out upon the first event only.
The lump sum payout can be used for any purpose you like, including private medical treatment or even alterations to your home if required. Cover from one provider often differs from another so it is important to ensure you understand what is and isnt covered.