Critical Illness

Any of us can become ill at any age – and with appropriate critical illness cover in place, it could help to give some financial security at a difficult time

What is Critical Illness Insurance?

Critical illness cover is an insurance policy, either on its own or as a part of a life assurance policy, that helps to protect you if you become critically ill. It is designed to pay you a tax free lump sum that you can spend on what you want, on the diagnosis of certain specified life-threatening or debilitating (but not necessarily fatal) conditions.

We understand that peace of mind for the future is essential. You’ve worked hard to build and grow your wealth; it’s only natural to put in place measures to protect it. But unforeseen life events and circumstances can potentially impact your finances in a number of ways.

We can help safeguard your wealth today and for future generations and organise it to support your needs and goals through the right protection insurance.

Life is full of uncertainties, and while we insure cars, houses and even holiday arrangements when it comes to ourselves and our family, often insurance is overlooked and undervalued. The truth is that we can get too ill to work or tragically die too soon, how would your loved ones cope?

The charity campaign 7 Families aims to raise public awareness of the financial impact of long term illness or disability and the video below introduces you to 7 families and their personal situations. You can find out more about 7 Families by visiting their website and facebook page.

What does critical illness insurance cover?

The specific conditions covered by critical illness insurance vary by your insurer and the type of cover that you take out. Typically they cover:

  • Heart attacks
  • Strokes
  • Some types of cancer

They might also cover certain types of conditions or conditions that reach a certain level of seriousness. It’s important to take advice to ensure you get the right cover for your needs.

When does it pay?

Critical Illness pays only for conditions as defined in the policy you take out. You should always take advice and understand how critical illness plans differ before you buy.

How much does it cost?

This depends on what you want to cover, how much you need to cover depending on your expenses and for how long. Factors that affect the price of your premiums include:

  • Type of policy - single or joint
  • Your age
  • Your occupation
  • Your lifestyle
  • Your level of cover

Is Critical Illness Insurance for you?

If you have answered yes, then there are many factors to consider and our independent financial advisers will take you through a step by step process, identifying your exact requirements and only then will they make a recommendation. Once agreed they will then manage your application from start to finish.

You may wish to read our Guide to Protection Planning which explains the different types of critical illness insurance as well as life insurance, income protection and private medical insurance. This guide is meant for your general information only and is not intended to address your particular requirements.

Want to make your life easier if you ever need to deal with the financial strain of a serious health problem? Critical illness cover enables you to choose how much cover you want, how you want it to pay out and whether you want to combine different cover types. Don’t leave it to chance – please talk to us.

If you stop paying premiums your cover will cease

Protection policies are subject to underwriting. The provider may exclude certain circumstances or increase your premium as a result of this process

You may find that the cover provided is less than you need if it is not reviewed regularly

Life insurance

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Critical illness cover

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Income protection

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Private medical insurance

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