Critical Illness Cover
This usually pays a lump sum if you are diagnosed with one of around 50+ conditions. We work with most of the top insurers in the UK.
Your children can also be covered for many of these conditions.
Many insurers now offer up to 90 conditions covered with Enhanced cover (which we always recommend) and also access to online /video calls with fast access to GP’s.
The biggest area of claims remains cancer, followed by heart conditions, stroke and multiple sclerosis – we have initiated claims on these.
It is a well-known statistic that one in two of us will get cancer during our lives. The average age of claimants for various cancers was typically in the late 30s, 40s and 50. Testicular cancer was 38, leukaemia was 39, ovarian and cervical cancer were both 44, lymphoma was 45, breast cancer and melanoma were 47, renal cancer was 50, bowel cancer 52, lung cancer 57 and prostate cancer 58.
You may now understand why most people will take BOTH critical illness cover and income protection as income protection will usually pay out quicker (usually a sick line for the GP) and you can claim from both if your policies cover your condition. The critical illness cover clears most of the mortgage and the sickness cover provides a monthly income as well.
It makes sobering reading but the good news is that many cancers are now survivable. Nevertheless, the impact on your life – your ability to work and look after your family, either financially or in terms of caregiving – remains immense. The financial strain at a difficult time cannot be underestimated.
Childrens Critical Illness Cover
When your child is sick, the only thing that should be on your mind is their recovery. Unfortunately, when a child is diagnosed with a critical illness, there are wider repercussions that can affect more than just their health. Between you taking time off work to attend to your child, to paying for treatments or rehabilitation equipment, critical illnesses can create even more stress in a dire situation for the entire family.
Better to have cover and not need it than to need it an not have it.
Critical illness insurance can bring you great peace of mind. Knowing you’ll have a financial safety net should your child fall seriously ill can allow for economic flexibility in your future plans and safeguard you and your family against the unexpected.
This cover is a proven priority to all parents or soon to be parents.
Your children can be protected from 24 weeks of pregnancy right up until they are 23 years old.
Critical illness insurance will pay out if you get one of the specific medical conditions or injuries listed in the policy.
The tax-free pay out could help cover your mortgage, rent or other expenses such as medical bills if you’re unable to work due to a critical illness. You’ll be covered for a wide range of illnesses, giving you peace of mind.
Critical illness cover pays out a lump sum if you are diagnosed with an illness that is set out in full terms and policy conditions, whereas income protection cover will pay out a guaranteed income in the event that you are unable to work and will continue to do so until you either die or return back to work. We always recommend having both of these cover in place to protect yourself even more than just having the oWe
We always recommend splitting your cover with 2 insurers such as AIG & Royal london or Aviva, by doing so you will allow yourself to be covered with a wider range of critical illnesses than just going with the one provider. One insurer may cover different conditions than the other and by doing so you and your children could be covered with a wider range of product.
A critical illness claim usually takes 4-6 weeks, depending on how quickly we receive the medical evidence we require.
It can be difficult to get critical illness cover if you have a pre-existing condition. This is because insurers will deem you a higher risk of becoming critically ill due to this condition.
We have vast experience in this area as we have been negotiation with insurers since 1983.
You may be able to get critical illness cover with an exclusion in some cases. This essentially means that you will be able to claim and receive a payout for an illness that has nothing to do with your pre-existing condition. Alternatively, you may be able to get cover but may have to pay a higher premium due to the increased risk.
Remember – each insurer is different and with no one-size-fits-all policy. We make multiple applications throughout the panel of insurers to see who offers the best terms.