Critical Illness Insurance pays a tax free lump sum upon diagnosis of an insured event such as a heart attack, cancer or stroke. As with PHI the premiums can be guaranteed or reviewable. The sum can be used to clear a debt such as a domestic mortgage or a practice loan, thus reducing onerous financial commitments at a stressful time.
The definition of disability will vary between companies under their respective total and permanent disablement clauses and it is essential for dentists and surgeons to ensure that their contract includes the most favourable definition.
For an independent review of your income protection or critical illness policy, please email us at email@example.com