Critical Illness Cover
CIC ( Critical Illness Cover ):
Critical Illness Cover is a one time lump sum payment upon finding the symptom or diagnosis of a specified disease or illness. If the policy holder dies upon being struck by the illness the CIC cover is not obligated to pay out anything.
The main condition is that you will still have to be alive to have survived 28 days after the diagnosis AND be to ill to continue the occupation you specified when you
first signed for the cover.
This type of cover is often included complimentary in premium versions of life assurance or endowment policy products however some providers are providing this cover on its own.
The type of person most likely to require this cover are single young professionals with a relative degree of unstableness in there life.
Not all illnesses are covered by insurers and insurers also have there own definition into how the bad the condition actually has to be to receive a proper pay-out.
The most commonly insured illnesses you will be able to insure for are :
Heart attack
Stroke
Cancer
Surgery for coronary artery disease
Major organ transplant
Kidney failure
Alzhiemers disease
