Critical illness cover complements your life insurance plan, if you suffer a critical illness within the policy duration you would receive a payout.  The rationale behind this type of policy is that the lump sum would help with any recuperation costs, medical costs, payment of your mortgage, financial help to replace any lost income. If bought in conjunction with a life insurance plan, the policy may only pay out once, whether you die or are diagnosed with a critical illness. If this cover isn’t what you need you may want to consider a stand alone critical illness plan.

 Some policies also cover your children when they reach a certain age. You will need to speak to your insurer or read the small print of your policy to find out what you are actually covered for.