Life insurance is generally taken out to cover ones life in the event of death. Critical illness cover is totally different in so much as you do not have to die in order to make a claim. Critical illness insurance is a lump sum payout available if you are diagnosed with a critical condition.

To ensure that the pay-out is triggered, the policy-holder must survive a minimum term to ensure that this is considered a survivable illness, usually about 28 days. Up to two dozen different illnesses can be covered by the policy and they are all survivable to a greater or lesser degree but with improving medical technology the probability of living a full life after diagnosis is increasing.

A lot of people consider this type of insurance a must for any mortgage protection policy. The reason for this is if you do suffer a heart attack, stroke or cancer, but to name a few conditions, having your mortgage paid off almost immediately can be a great boost to aid recovery were possible.

Options for payments are by month or by year and to some extent can act to replace income, although specific income protection plans are still a very good idea and because they can cover short periods off work without the diagnosis of such a major illness.

Examples of critical illnesses include the obvious, such as cancer, stroke, and heart-attack as well as less common conditions such as Alzheimer's, blindness, deafness and the failure of other major organs such as the kidneys.

This type of policy (which can also been known as Living Assurance or Serious Illness Insurance) has such obvious benefits in everyday life and might seem like it has been around forever, like life insurance. But in fact the first plan was only created as recently as 1983 by Dr M Barnard who termed it cover for "Dread Disease." His foresight against the unexpected has made many lives easier today.

Obviously the policy safeguards the policy holder, however the insurers themselves are not out to lose money, and therefore the person taking out the policy must give the insurer no reason to think a payout is imminent. The policy holder must be fit and healthy at the outset and factors such as smoking and dangerous sports are taken into consideration.

Critical illness insurance can be quite a costly plan at the best of times that said it is always better to take out the plan the younger you are. This is due in no small part to the fact that the risk of contracting a critical illness does increase sharply the older you get and for this reason some insurance companies will not insure anyone over the age of 65. However there are some, very few, who will still offer cover but at a price over this age.

Critical illness cover is a very useful precaution for a young person and as life goes on it becomes more expensive but also more relevant. It adds a little peace of mind for you and, with additional life cover included it would ensure peace of mind for any loved ones left behind.

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For more information advice and information choosing the best critical illnesss cover policy from a selection of life cover companies why not try Life-Ins.co.uk Free online critical illness cover quote