How will I receive my Critical Illness payout?

If you make a claim then you will receive the tax-free lump sum by cheque. Once you have received the payment your policy will terminate.
To make a claim it is essential that your illness is included in the list of insured illnesses issued by your insurance company. You can find this list in the Key Features Booklet which you will have received within the Application Pack.

Don't forget that to make a claim you must survive for a specified number of days first - normally this is 28 days but some insurance companies have lowered this to 14 days. This is called the 'survival period'.

When you receive the payout it will be tax-free, and not subject to either income or capital gains tax. As a result you will receive the whole amount of your claim and you will be able to spend the money in any way you choose.