A specified illness cover is a form of insurance that pays out a tax-free lump sum if you are diagnosed with a specified illness during the policy term. Specified illness cover is sometimes referred to as critical illness cover or serious illness cover. When we talk about serious illness cover, we refer primarily to heart attack, cancer or stroke however there are many other serious illnesses which can be covered under this type of policy.
This is a form of “living” insurance and is designed to allow you to take the time to recover from a serious illness while not having to worry about day-to-day bills and expenses when you may be unable to work.
Specified illness cover can be purchased on its own or combined with life cover or mortgage protection under the one policy.
At Phelan Caswell Insurances, we design the Specified Illness Protection Plan to suit your requirements and make it easy to engage with and understand the process.