Not everybody will become critically ill in their lifetime. It is natural to assume that it may never happen to you. It is well worth thinking about, however, because being diagnosed with a critical illness could cripple your family's finances. If you are the main earner in your household and you become unable to work, you and your family will still need to meet all your monetary obligations - for example your mortgage and childcare costs. How could critical illness insurance help? If you are covered by a policy and are diagnosed with an illness covered by that particular policy, you will receive a tax free cash sum. Depending on its size, the cash payout could go a long way to support your family during a difficult time. Critical illness insurance could support your family in other ways too: for example, some insurers will extend your cover to your children for no extra cost. Is it expensive?
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