Why Electricians Need Critical Illness Cover
A serious diagnosis does not just affect your health – it can stop you working for months or years, create significant additional expenses, and reshape your entire financial situation. Critical illness cover provides a lump sum payment to help you manage these costs.
As a self-employed electrician, you have no employer sick pay and no death in service benefit. Critical illness cover provides a financial safety net if a serious diagnosis stops you working.
What the Lump Sum Can Do
For a self-employed electrician, a £100,000–£200,000 CIC payout could:
- Clear the mortgage and reduce monthly outgoings
- Fund private treatment to speed recovery
- Cover tool finance and van payments while off work
- Keep your business afloat during recovery
What Conditions Are Covered?
Most UK CIC policies cover 40–57+ conditions including:
- Cancer (most types)
- Heart attack and heart surgery
- Stroke
- Multiple sclerosis
- Major organ failure and transplant
- Motor neurone disease, Parkinson’s, dementia
How to Use the Lump Sum
- Clear or reduce your mortgage
- Cover private treatment costs
- Fund home adaptations
- Replace lost income during recovery
- Pay for specialist care or rehabilitation
CIC vs Income Protection
CIC pays a one-off lump sum on diagnosis. Income protection pays a monthly income for as long as you cannot work. Many people benefit from having both.
Frequently Asked Questions
Yes. Available from all major providers at standard rates.
35-year-old non-smoker: ~£25–50/month for £100k cover. Varies by provider.
Yes. No sick pay + business overheads make a CIC lump sum essential.