There is no right or wrong amount of critical illness cover you should cover yourself for.
It depends on what is affordable to you as the more cover you want the more expensive it will be.
Some people look to cover their whole mortgage liability if in the event they are diagnosed with a critical illness their mortgage debt can be repaid.
Another option is to take your annual salary and multiply that by one, two or three and cover yourself for the eventuality you may not be able to work for a period of time. This giving you enough funds to support you and your family while you are off.
The tax-free lump sum pay out could help cover your mortgage, rent or other expenses such as medical bills if you’re unable to work due to a critical illness. There are no restrictions on what you can use the money for.
