Critical Illness Insurance

What is it?

Critical illness cover, or critical insurance as it sometimes known, is designed to pay out a lump sum if we are diagnosed with a specified critical illness… and survive.

It is generally accepted that if we are younger than age 65, then statistically, we have a greater chance of being diagnosed with a critical illness than we do of dying. It is surprising therefore, that far fewer people have critical insurance cover than have life insurance.

Having this type of protection in place can give us peace of mind. It cannot prevent us being diagnosed with a critical illness, but it can at least make sure that we are financially sound if we do become ill. Given that medical science has advanced so much, we have a much better chance of survival than we have ever had.

This type of insurance is designed to provide us with a lump sum in order that we can take time to get our lives back and not worry about the financial side of things.

Critical insurance plans do not provide regular income. If you feel that you would also benefit from a regular income if you were unable to work, then you would also want to consider income protection insurance. It is quite normal to put in place both plans as part of a family’s protection strategy.

How does it work?

You apply for cover by completing an application form and in most cases a plan can be accepted with no further medical evidence. However in the case of adverse medical history a further questionnaire could be required. In some cases a GP report may be necessary. If you have health problems, it may be necessary for you to visit your GP for a medical examination.  The insurers then underwrite your application and may then grant cover. If you insure for say £100,000, and are subsequently diagnosed with one of the illnesses detailed in the plan, then the insurer will pay out a one off lump sum of £100,000, tax free, subject to the conditions set out in the plan.

The most commonly known illnesses covered are : heart attack, stroke and cancer. Most critical illness policies specify just which particular illnesses are covered. The ABI ( Association of British Insurers) sets down over 20 different illness, which are now considered to be the basic cover. Some insurers offer only these covers… some insurers offer twice as many covers. Please note that not all forms of cancer, heart attack and stroke are covered by a critical illness policy.

Take advice

Not all critical illness insurance plans are the same. Each insurer decides just how many illnesses they will cover and each insurer sets out the severity of illness which is required before payment is triggered.

It is vital that you get advice before taking out such a plan. As specialist insurance and protection advisers we know the market, we know the insurers and we know the most suitable products.

The policies available are continually changing and the quality of critical insurance cover changes accordingly. We will be happy to recommend the most suitable insurer and the most suitable policy for you and your family, bearing in mind your need for cover and your budget.
Our sourcing software can show us just which insurance provider will offer you the lowest price. Price is of course very important when choosing protection. We all want the cheapest premium available.

The quality of cover is, however, a very important factor.

We can guide you to the cheapest policy which gives you the cover you want.

For all protection policies our advice is paid for by the provider in the form of commission. You do not pay us. 
Don’t risk your future by relying on a salesman working by phone in a distant location, who you will never meet and whose ethics and standards may be questionable.

We are happy to provide you with a free no-obligation quotation, so that you can evaluate cover and affordability.

Talk to us about what you want to protect. We will happily explain to you just how we would approach your requirements. Take advantage of our free initial, no obligation, critical illness consultation. We think you will like our straightforward approach.

Complete the form at the top right of this page for a call-back or e-mail and one of our independent critical illness advisers will make contact with you. Alternatively visit  our contact page.

Alternatively, call us on 01482 863127