This insurance can be particularly useful for providing a tax-free lump sum payment if the insured person has a specific illness or condition which is covered by the policy. They only pay out, though, on the illness covered – so it definitely won't pay for an illness not on the list. The friendly consultants at UKFCS will be able to advise you regarding the policies available.

There are many different critical illness policies covering different illnesses. An important point to remember is that if a specific illness runs in the family, the insurance payments will be higher because of the additional risk to the insurance company. It is also possible to have critical illness cover for more than one person, so for instance a couple should be able to take out a policy. There can be a problem with this type of policy as some policies only pay out for the first person with the critical illness.

This is certainly a policy which needs advice from the experts. The knowledgeable consultants at UKFCS will be able to talk you through the various policies available and whether or not certain exclusions are relevant. Only by discussions with the consultants will they be able to advise you as to the best alternatives for critical illness insurance.