Considering just how many lives are wrecked by critical illnesses, it is surprising that more people do not take out critical illness insurance.

The principle is straightforward; in the event of a specified illness being diagnosed, the insurance company will pay out a lump sum after a survival period. Often, critical illness cover is combined with other types of insurance and may even provide an investment element so that, for example, a given sum will be paid out on the death of the insured.

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