Critical Illness insurance is designed to help protect you and your family against the financial hardship a critical illness may cause. Medical advances continue to improve the chances of surviving serious illness but prolonged time off work for treatment and recovery can hit hard financially. We cannot predict the future or if a serious illness will affect you but we can help protect you and your family against financial hardship if the worst were to happen.
Cover specifically matched to your needs
Critical Illness policies are not all the same and customers need to understand the differences in easy to understand language. We give customers access to professional advice tailored to their needs and a simplified approach to effecting cover. We have access to all Life Insurance companies in the UK and offer impartial, free advice. We can review existing cover against what is currently available in the market looking at breadth of cover and price.
We are living longer which is great news but statistics tell us that we are now far more likely to suffer from a critical or disabling illness in our lifetime. We strongly believe that Critical Illness Insurance can help bring financial peace of mind and it is essential that outstanding debts, financial and family commitments are covered so you can focus on getting better.
Critical Illness Insurance plans usually pays the amount covered; tax free lump sum if you suffer from one of the listed critical illnesses or undergo an operation as listed in your key features document issued by the selected provider.
You can also add Life Cover to your critical illness cover. This option is usually selected by our clients and benefit would also be paid if the person covered dies or suffers a terminal illness. The additional cost is very small and can actually cost less than stand alone Critical Illness Insurance. This option does not apply to child cover benefit.
Some conditions may be less serious than others but could still have a massive impact on your life. Partial payments are available on many plans and typically between 12.5% and 25% of the main plan benefit up to £25,000. Partial payments are paid in addition to your main benefit and you could make a further claim at a later date.
If you suffer from an Illness and have to go on a NHS waiting list, would you want to wait if it was for a potentially life threatening illness? Some policies will pay an advance of the amount covered giving you the option to pay for your operation. Conditions typically covered include open heart surgery, coronary artery by-pass grafts, heart valve replacement or repair and aorta graft surgery.
When an advance payment is made, your benefit reduces by this amount (up to 25% or £25,000 – may vary by Insurance company, the balance of your insured amount is then paid once you have undergone surgery.
Critical Illness policies cover a wide range of illnesses, some well known and very common to the more rare diseases. Conditions covered include Cancer, Heart Attack, Stroke, Alzheimer’s and Multiple sclerosis (MS). Clients must also be aware that not all serious illnesses are covered which is why advice is essential when looking for cover.
The cost of cover depends of various factors including age, the amount of cover you select, your age, health and occupation. Since December 2012, gender is no longer a factor in determining price.
Best Cover or Best Price
We ensure customers understand what your plan covers and present the information in clear and plain language you understand so you can make an informed decision. One plan may cost less than another but this does not mean it is the right choice for you. It is also important to assess if a joint life plan that pays on the first event is right for you or if two separate plans offer better value, there is often little difference in price. Whilst we do not ever wish to think about our children falling ill, it is reassuring to know that should the worst happen, they are covered under your Critical Illness plan. For parents, this can often be very important as two single life plans usually cover children on both policies giving double child cover.
Full product information is available on request and can be emailed to you, please call on 0800 043 0413 or email us.