Critical Illness Cover
Protect your financial situation from the impact of serious illness
Serious illness can occur at any time and often without warning. While it’s easy to put health concerns aside when you’re feeling well, preparing for this possibility could be a worthwhile investment. Critical illness insurance can financially protect you, your mortgage or your family from the financial consequences of suffering a serious illness. It could provide financial stability at a worrying and unstable time.
Finding critical illness insurance
Critical illness is an uncomfortable topic to think about, let alone plan for, but we’ll make the process easier. We’ll help determine your priorities and walk you through the insurance options. Following an initial consultation, we’ll search the market and compare policies to find an insurance policy best suited to your needs. With access to the whole market, we can find policies for almost any critical illness or specific condition. Critical illness policies vary widely from insurer to insurer, so checking the small print is essential. When we present you with our recommendation, you can rest assured we’ve thoroughly evaluated it.
When you’re happy to proceed, we’ll manage the paperwork. You’ll soon have peace of mind that if you’re diagnosed with a serious illness, you won’t have to worry about how you’ll pay the bills.
Get in touch for an initial free, no-obligation chat with an adviser about the most suitable critical illness insurance option for you.
Critical Illness Cover FAQs
What is critical illness insurance?
Critical illness insurance pays a tax-free lump sum if you’re diagnosed with a specified illness or medical condition during the policy term. When the policy ends, all protection will stop.
When might you need critical illness insurance coverage?
You should consider taking out a critical illness insurance policy if:
- You don’t have enough savings to cover your outgoings if you were diagnosed with a critical or serious illness and were unable to work.
- You won’t receive any sick pay from your employer if you are diagnosed with a critical or serious illness and are off long-term sick.
- You have a family and want to ensure they have enough money if you’re diagnosed with a critical or serious illness.
- You’re single and want to cover your mortgage balance and payments if you’re diagnosed with a critical or serious illness
What illnesses does critical illness insurance cover?
The illnesses that a critical illness policy covers vary between insurers. Commonly covered illnesses include cancer, heart attack, stroke, major organ transplant, kidney failure, multiple sclerosis, coronary artery bypass surgery, paralysis and Alzheimer’s disease.
Typically, pre-existing conditions are unlikely to be covered.
How are critical illness insurance premiums calculated?
Critical illness insurance premiums are based on several factors, including age, health, gender, smoking status, coverage amount, and policy term.
How much coverage should I get?
The amount of coverage depends on your financial situation, including your income, debts, savings, and potential medical expenses. When working out how much coverage you need, consider how much you would lose if you couldn’t work due to illness and your financial commitments. The general recommendation is to cover a minimum of five years of living expenses.
