What is Critical Illness Insurance?
This type of insurance pays you a lump sum (i.e. a once off) if you get one of a limited number of illnesses.
If you get a payment you can do what you like with the money.
However, there’s a major problem if you get a critical illness which is not one of those covered…
Critical Illness polices may be demanded and even useful to provide cover for “business protection“.
But if you want illness cover we’d suggest Permanent Health Insurance is a better bet.