This insurance policy covers you if you contract a long term or terminal illness. This could include cancer, heart bypass surgery, heart attack, kidney failure, a major organ transplant, multiple sclerosis or a stroke. Some conditions tend to be excluded from critical illness cover, such HIV/Aids, Mental Illness, Alzheimer's and Parkinson's, although these vary between insurers.

Critical illness cover payments are generally paid out in a lump sum. Payment is typically made once diagnosis of the condition has been confirmed. Premiums depend on gender, age, occupation and the amount of insurance required.

More information on critical illness cover can be found in the Insurance Guide.