life insurance

Life Insurance: Critical Illness Cover

Critical Illness Cover

Critical illness insurance will pay out a lump sum upon diagnosis of a specified serious illness.

Critical Illness benefit can be added to both level term life insurance and mortgage protection life insurance to provide a lump sum benefit in the event of the insured being diagnosed with a specified critical illness.

Which Illnesses are Covered by my Policy?

holding a heartThe critical illnesses covered by each provider can vary so it is important to always check your chosen critical illness insurer's key features and technical details to find out the exact cover offered. For some less serious conditions, a 'partial pay out' may apply whereby only a percentage of the lump sum is paid out. This will be detailed in the insurance company's key features document.

For reference, we have compiled an example list of illnessesexample list of illnesses which are often covered.

Are there Different Types of Critical Illness Benefit?

Yes, Critical Illness can be added to your policy as either an Integrated benefit or and Independent benefit.

Integrated Critical Illness Benefit:

With this type of critical illness benefit, in the event of the diagnosis of a specified critical illness, the cover amount is the same as the cover amount for death claims. If a claim is made then the policy will cease and no further claims will be made.

Independent Critical Illness Benefit

You can also add critical illness as an independent benefit. This way you can choose a different amount of cover to that paid out on death.

With independent critical illness cover, if a critical illness claim is made then the death cover still remains in place. This means a further claim can be made in the event of the death of one of the lives assured.

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For cover to continue following the diagnosis of a critical illness, you may consider purchasing a seperate critical illness policy, independent from your life cover.

How Much Critical Illness Cover Should I have?

The amount of cover you choose depends very much on your financial circumstances. Some of the things you may wish to consider are:

  • your current income (although it may only be practical to replace this for a few years due to the costs of critical illness cover)
  • your outstanding mortgage and any other debt
  • additional child care costs for those you leave behind.

You can use our Cover Calculator to help you with this »

I heard about a rejected Critical Illness claim, how can I be sure this will not happen?

This can occur, however when it does happen it is normally because the policy holder has not disclosed all of their medical history to the insurance company.

It is really important that during the application process you complete the answers carefully. Ensure you tell the insurance provider about all your medical history, personal pastimes and lifestyle choices, such as smoking and alcohol consumption.

Will I have to Undergo a Medical Examination?

You may have to undergo a medical or doctors report before the insurance provider will cover you. The requirement for this will be based upon your past medical history, the amount of cover you are asking for, your age and the term of the policy. Any cost associated with any medical report or exmination will be paid for by the chosen provider.

If the insurer does request a medical or doctors report, will assist in ensuring that this is arranged as quickly as possible.

Get a Quote » In the case of a doctor's report we will even liaise with your doctor to ensure they return it promptly, so your cover can be in force as quickly as possible.

Summary of Cover

This is a general overview of the cover available, please read the insurance company's product key features for the specific cover and terms and conditions that apply.

  • Critical Illness is a benefit which can be added to a life insurance policy, which pays out a lump sum upon diagnosis of a specified critical illnessspecified critical illness
  • The term and sum to be insured are decided at the outset.
  • If a critical Illness is diagnosed during the specified term then the sum insured is paid out. Some less serious specified critical illnesses may only enable you to claim for a partial pay out, which is a percentage of the full level of cover. You will find the details regarding this in the insurance company's key features document
  • If the policy comes to an end and you have not made any claims, the critical illness insurance policy ceases and nothing is paid out. This product has no cash in value at any time.
  • If you are replacing an existing policy please ensure you do not cancel your current arrangements until your new policy is in force.

Can you Help me Choose a Product?

We arrange life insurance on a non-advised basis - this means no advice is given or implied.

Some documentation from insurers may include wording stating that is your financial advisor, however this is a general term used by the insurers. Our terms set out in the Our Services document confirm life insurance is arranged on a non advised basis only. uses cookies to ensure you get the best experience when using our website. By continuing you are agreeing to our use of cookies as described in our privacy policy. Read Our Privacy Policy