Critical illness cover is a type of insurance that pays out a tax-free lump sum of money in the event that you are diagnosed with a critical illness covered by the policy. The covered illnesses typically include cancer, heart attack, stroke, and other serious medical conditions. The policy is designed to provide financial support during a difficult time, and the payout can be used to cover the costs of medical treatment, living expenses, or any other expenses that may arise as a result of the illness.

There are a few reasons why you might want to consider getting critical illness cover. Firstly, it can provide you with peace of mind, knowing that you and your family will be financially protected in the event of a serious illness. This can be especially important if you have dependents who rely on your income. Additionally, the payout from a critical illness policy can help to cover the costs of medical treatment or modifications to your home or lifestyle that may be necessary as a result of the illness.

It's important to note that critical illness cover is not the same as life insurance, which pays out a lump sum in the event of your death. While both types of insurance can provide valuable financial protection, critical illness cover is specifically designed to provide support if you are diagnosed with a serious illness.