It is important to carefully examine the terms and conditions for critical illness policies as only certain illnesses are covered by the insurance. You might, unfortunately, acquire an illness that is critical or terminal, but if it isn't on the specified list of dieases covered by the insurance, there will be no pay out upon diagnosis.

Critical illness insurance is an important part of your overall personal insurance, particularly if you are self employed, as you may well survive a critical ilness but be incapacited, and therefore unable to wrok and earn a living. Under these circumstances, compensation from these policies can be vital for your contiued financial well being.

Long term insurance such as critical illness insurance creates a responsibility to maintain significant regular payments over a large number of years so take care in choosing a policy that provides cost effective cover.