For well over 30 years now a South African Life Assurance company pioneered the way to protect people with a policy that pays out a tax-free lump sum in the event of a critical illness being diagnosed.

When you consider just how many lives and their families are affected by a critical illness such as heart disease, cancer a stroke, and many other illnesses, it is surprising that more people don’t take out critical illness cover. It is usually more expensive than regular life insurance but that’s because there is a higher chance it will be used.

The idea of CIC is very simple and easy to understand and why we make it a key recommendation when we assess a clients insurance protection needs.

It works like this: In the event of one or more of a list of specified illnesses being diagnosed, the insurance company will pay out a lump sum typically after a survival period of 28 days.

Many clients opt for a critical illness policy that is combined with other types of insurance so for example, it pays out on either death, or a critical illness being diagnosed – whichever is the first event. These types of policies can also be taken out on either one or two lives protecting say both breadwinners and their families.

Some arrangements may even provide an investment element so a lump sum may be paid out if the policy holder/s survives until the end of the policy period.

There are many options with CIC and it can often be difficult to choose the right set of benefits for your circumstances.

Talk to us about how we can tailor a package of protection to provide a level of cover that is right for you and at a price you can afford.

IF THE POLICY HAS NO INVESTMENT ELEMENT THEN IT WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

THE POLICY MAY NOT COVER ALL THE DEFINITIONS OF A CRITICAL ILLNESS. FOR DEFINITIONS PLEASE REFER TO THE KEY FEATURES AND POLICY DOCUMENT.