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Critical Illness Cover

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Critical Illness Insurance

Critical illness policies are normally an addition to your life insurance policy, cover works just like a life insurance policy. If you are diagnosed with a critical illness which you survive the policy will payout a lump sum to you at a time when you really need to focus on recovering from your illness, rather than bills etc. The policy will help with the repayment of mortgages and other debt just as a life policy would do, so rather than worrying about finances you can concentrate on recovery.

Critical illness protection expires after a payout is issued, or when the policy term ends and there is no cash-in value.

A key benefit of critical illness cover is that you can spend the pay out as you wish, at a time when you may really need access to significant funds.

It is possible to take out critical illness cover both as part of a life insurance policy or as a stand-alone policy.

Benefits of a Critical illness policy

  • Provides greater protection for you and your dependants than a life insurance only policy
  • Pays out upon diagnosis, even if you go on to make a full recovery
  • Could replace your income if you become too ill to work.
  • Can be taken out as a joint policy with your partner.
  • Can be taken out with a mortgage protection policy to ensure your mortgage is repaid should you suffer a critical illness
  • Some insurers offer automatic critical illness cover for the policyholders’ children.

Things to consider

  • Generally, more expensive than standard life insurance
  • If you cancel your policy, there is no cash-in value
  • Cover will end if you do not keep up with monthly premiums
  • You may suffer an illness that stops you from working, but is not covered by your policy , short term recurring problems, stress, bad back etc.
  • May require you to undertake a medical exam

Just complete our online quotation request and we’ll do the rest or call us on 0800 540 4036

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