A great many people beat cancer and go on to live full and active lives, although it has to be said that a condition as serious as this can have a significant impact on a patient's lifestyle for an extended period.



Relatively few people have the cover for critical illness that would be invaluable in those circumstances. Critical Illness Cover, or CIC, would provide a real back up if you were diagnosed with an illness from which you would hopefully recover, but are likely to need treatment for an extended period. Add to this the fact that even when you are well enough to return to work, you may not be able to continue with your current employment because of the condition.

Most people appreciate the importance of life insurance once they have a mortgage and in particular if they have a family to support. The importance of a product like this, which insures the financial stability of the family on the policyholder's death can't be over-estimated.

The wonderful advances in medical treatments for a great many of the cancers, heart disease and strokes mean that people are very much more likely to survive these illnesses. Whilst there have been many impressive treatments which are non-invasive and mean that the patient can get on with their jobs with relatively little inconvenience, there are still many that can take months or even years, to recover from. If this is the case, and you're unable to work, your life insurance won't cover any of it. CIC is what you really need.

"Unlike life assurance, critical illness cover pays out not if you die but if you contract an illness," says a spokesman of one of the main insurance brokers. "There is also a far higher incidence of claims ]with critical illness cover] because we are all living longer."

If you are unfortunate enough to be diagnosed with a critical illness, the CIC cover will pay out a specified lump sum, which will be tax-free. The money will be yours to handle as you wish. If you have to give up your job, you could use it to pay it off your mortgage. If you want to keep it as a nest-egg you could use it to allow you to take a break or work part-time whilst you're being treated. You could also use it for any special medical treatments that would help your condition or think about making adaptations to your home or car to make life easier for yourself.

There are various ranges of illnesses which CIC covers - depending on the insurers. It's really important that you compare like for like and don't just jump for the cheapest on the basis that they're all the same. Consider the onset of Alzheimer's, for instance. Two of the main companies vary on this, with one offering cover until you're 60 and the other covering you until you're 65. Some companies offer additional cover for certain illness or events. If there's a higher risk factor in your case due to family history, then it's possible that you may have to pay a higher premium.

The younger you are, the easier it will be on your pocket. If you're around 25 and a non-smoker your monthly premium would be half of what you'd be charged if you waited another 15 years. Many people in the 25 year old bracket are still single. There is a strong case for arranging CIC if you don't have the support of a partner. If you have liabilities and were to become critically ill, would you have enough money to see you through a period when you were unable to work?