Critical Illness Cover

Critical illness Cover
A critical illness, such as a heart attach or cancer, affects one-in-four women and one-in-five men before retirement age. Critical illness insurance is designed to ease the financial pressures by paying a tax-free lump sum on diagnosis of a critical illness or if you become totally disabled.  

 

What are the main features of Critical illness cover?
Before you take out cover, here are some things to consider:

• Critical illness cover will pay out a lump sum of money if you are diagnosed as suffering from one of the specified illnesses detailed in your policy terms and conditions.
• Cancer is the most common critical illness that any claims are made for effecting a large number of people. 
• Critical illness cover does not cover just any sickness that affects your ability to work – it is very specific about which illnesses are covered.
• Some insurers exclude any pre–existing medical conditions and others will decide your premium on the basis of your personal medical history.
• Critical illness cover is different to other types of protection insurance for example income protection or payment protection, so make sure you understand what it does and whether it is right for you.

Before you take out the cover, the regulated firm that sells the policy should give you either a Policy Summary or Key Features document. These documents will set out the key features and benefits, as well as any significant or unusual exclusions.

 

 

 

Common types of critical illness include:

• Alzheimer’s disease
• Aorta graft surgery
• Aplastic anaemia 
• Bacterial meningitis 
• Benign brain tumour
• Blindness
• Cancer
• Cardiomyopathy
• Coma
• Coronary artery bypass grafts
• Creutzfeldt-Jakob disease (CJD)
• Deafness
• Heart attack
• Heart valve replacement or repair
• HIV infection 
• Kidney failure 
• Liver failure 
• Loss of hands or feet 
• Loss of independent existence 
• Loss of speech 
• Major organ transplant
• Motor neurone disease 
• Multiple sclerosis 
• Open heart surgery 
• Paralysis of limbs 
• Parkinson’s disease 
• Pre-senile dementia 
• Primary pulmonary hypertension 
• Progressive supranuclear palsy 
• Severe lung disease 
• Stroke 
• Systemic lupus erythematosus 
• Third degree burns 
• Traumatic head injury 

Most, but not all of the above diseases will have to result in permanent symtoms before a life company will agree to pay out on a claim and terms and conditions will be vary between providers.

Life Insurance with Critical Illness cover

What is Critical Illness cover? And how will it benefit me?

Critical illness cover is a policy usually taken with life cover and is designed to insure you in the event that you are diagnosed with a critical illness or become permanently and totally disabled, some critical illness policies will also cover you if you are diagnosed with a terminal illness. Life insurance with Critical illness policies are commonly taken alongside a mortgage. 

 

For a free critical illness or life insurance quote please complete the form at the top of the page or call 0800 043 5039

 

Options to consider...

Level cover

This is the most common form of life insurance and is usually taken to cover an interest only mortgage. The sum insured remains the same throughout the term and is guaranteed to pay out a lump sum of money of the death of the life insured.

Decreasing Cover

Sometimes referred to as mortgage cover, this is a decreasing term cover and is designed to reduce over the term of the policy in line with your decreasing mortgage balance; if a repayment mortgage has been taken.

Renewable term insurance

At the end of the policy term the policy holder will have the option to extend the policy without the need for a health review.

Convertible term insurance

A level term policy with the option to convert to a whole of life policy or endowment insurance

Index linked term insurance

To combat the effects of inflation this type of cover will increase over the policy term in line with the Retail Price Index (RPI); your monthly premiums may also increase.

For a free critical illness or life insurance quote please complete the form at the top of the page or call 0800 043 5039

 

Life Insurance

What will I be covered for? What are the benefits?

Life insurance (often referred to as "life assurance" or "term insurance") is designed to insure you in the event that you die. Some life insurance policies will also cover you if you are diagnosed with a terminal illness. The main purpose of life insurance is to provide a lump sum to benefit your family and dependents. Life insurance with Critical illness policies are commonly taken alongside a mortgage.

For a free critical illness or life insurance quote please complete the form at the top of the page or call 0800 043 5039