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Terminal Illness and Critical Illness cover are very different:
Terminal illness insurance only pays out you if you are diagnosed with an illness from
which you are expected to die within a year.
Critical Illness insurance pays out if you are diagnosed with any one of a long list of
critical illnesses included on the insurance company's list of insured illnesses and conditions.
To receive a payout on critical illness you must fulfill one of the folowing conditions:
- be diagnosed as having a serious or chronic illness
- be diagnosed with a terminal illness which is listed on your policy
- require a specific type of operation which is listed on your policy
- suffer from any condition or have an accident that totally and permanently prevents
you from working
1 in 5 men and 1 in 6 women suffer a critical illness before their usual retirement age,
so the chances of having a critical illness are quite substantial.
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