Group Critical Illness
Critical Illness cover is a policy designed to pay out on life changing illness and helps staff cope with any lifestyle changes as a result. The policy pays out a lump sum if you are diagnosed with a specific illness as set out in the terms of the policy.
Critical Illness varies between insurers and Healthwise will guide you accordingly. If an employee is diagnosed with one of the conditions specified in the policy the insurer will pay out a tax free lump sum which they can then use to make changes to the home (a stair lift) car adaption or pay off loans or a mortgage.
These are some of the typical illnesses covered by the policy:
- Cancer (most malignant types)
- Brain tumour
- Heart conditions (as defined)
- Kidney failure
- Loss of limbs
- Loss of speech
- Major organ transplant
- Multiple sclerosis
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