Specified illness cover provides for a lump sum payment in the event that you are diagnosed with a serious illness specified in your policy. This type of payment can help you to cover expensive medical bills as well as meet your ongoing living expenses such as mortgage repayments, allowing you time and space to get well again.

Although the list of illnesses covered varies from company to company, most provide cover from the most common illnesses such as cancer, heart attack and stroke.

Most people know someone who has suffered from a serious illness at some stage in their lives, and they will also know that this is not a time to be worrying about household bills.

If you need to make a claim, the lump sum payment you receive can be used for whatever you see fit, whether it is simply used to meet your hospital bills and expenses, take a recuperative break from work so you can return to full health or even pay off your mortgage.