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Critical Illness Insurance

Critical Illness Assurance, Originally known as 'dread disease' cover, the use of this type of contract has expanded considerably in the UK over the last few years. Due to advances in medical care, many people who suffer major life threatening illnesses such as heart attacks or strokes survive. However, many such individuals may not be able to continue working and costly, ongoing, specialist treatment may be required.

What type of critical illnesses are covered:-

Cancer ,Deafness, Cardio Myopathy, Heart attack, Heart Valve Replacement, Creutzfeldt Jakob Disease, Coronary Artery Bypass, Loss of Limb, Hodgkins  Disease, Kidney Failure, Loss of speech, Liver Failure, Major Organ Transplant, Motor Neurone Disease, Loss of independent Existence, Multiple Sclerosis,  Paralysis/Paraplegia, Open Heart Surgery, Stroke, Parkinsons Disease, Pre-Senile Dementia, Aorta Graft Surgery, Terminal Illness, Severe Lung Disease, Benign Brain Tumour, Third Degree Burns, Permanent Total Disability, Blindness, Aplastic, Anaemia, Bacterial Meningitis, Coma. Setting up procedures are similar to those for life assurance. Most Whole of life insurance plans will allow the inclusion of Critical illness cover. 

Critical illness insurance is a benefit that can be either free standing or in the case of whole of life insurance a "bolt on benefit". Unlike life assurance, however, critical illness cover may be suitable for single people with no dependants or outstanding liabilities. A need for such cover can also be seen in the context of business protection for shareholders and key persons. If you want to find out how much family life insurance you may need just give us call for a chat.

A growing area for this cover is in relation to the mortgage market where, if the client is unable to work following a major illness, the sum assured would provide the necessary funds to repay the mortgage.

It always should be borne in mind that the underwriting of critical illness cover is more stringent as benefits can be paid for a diagnosis of a disease which may be life threatening but does not have to be terminal. The underwriters have to anticipate the potentially shorter period over which premiums would be payable.  

Just one call, provides all the support services and advice from what and where to purchase, arranging the right finance and insurances that you need at a price that's right for you.

For more specific help and to talk through you options, call our team of expert advisers today