Complete our quick quote form and find the BEST deal on life insurance.
Critical illness insurance cover will pay you the tax free lump sum being your sum assured if you are diagnosed as having any one of a wide range of specified illnesses.
Because critical illness insurance cover pays out when an illness or event specifically listed in the policy happens, it is vital to get the most comprehensive policy possible. A basic plan can cover the most often occurring critical conditions, but a comprehensive plan covers many more critical conditions.
A critical illness is one which may not necessarily cause your death but may well substantially affect your life. You may be out of work for 12 months whilst you are recovering or you may not return to the job you did before you took ill. The critical illness payout enables you to concentrate on recovering from your illness rather than worrying about your financial affairs.
Critical illness cover is always cheaper when part of a life insurance policy. The critical illness cover is paid out of the life insurance fund meaning that if you have a critical illness claim, there may not be any life insurance cover left especially if the policy has the same level of cover for both life insurance and critical illness. If the critical illness cover amount is less than the life insurance cover amount, then the difference will be left after the critical illness claim for any life insurance claim before the end of the term of the policy. Critical illness cover can be set up as a standalone plan.
Choosing the right level of cover can sometimes be tricky, especially if you want to protect your family.
If you are taking out cover to protect your mortgage, choosing the right amount of cover is fairly straightforward. To ensure your mortgage is paid off if you are diagnosed with a critical illness, your cover should match your mortgage debt.
If you wish to protect a partner and/or children, the amount of cover you choose will depend on how many dependants there are, and the standard of living you wish them to have. You may also need to take into consideration other debts that may need to be paid.
The level of cover will also of course depend on your budget, as it's important to take out cover that's affordable to you.
For information on what life insurance is right for me, expand the boxes below.
There are some insurers who offer a budget cover for critical illness. These types of policy cover the three main critical illnesses being heart attack, stroke & cancer.
These main critical illnesses are the most common critical illnesses people suffer.
These policies cover the majority of the critical illnesses that are insured for being approximately 30 critical illnesses. Obviously, the comprehensive cover is more expensive than the budget cover.