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Critical Illness Cover – an introduction

As the name suggests, critical illness cover pays out a tax-free lump sum in the event of diagnosis of a critical illness. In order to claim, the life assured needs to be diagnosed with a critical illness listed amongst those covered by the life insurance company.

Most providers today provide cover for a comprehensive range of critical illnesses. The Association of British Insurers has published standard definitions for critical illness policies to which most life insurance companies adhere.

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