Critical illness cover, also known as critical illness insurance, is a long-term insurance policy covering severe illnesses listed within a policy.
At the time of taking out the policy, you will need to disclose any underlying medical conditions. This may result in some illnesses being excluded from the cover. Failure to disclose any underlying medical conditions could make the policy void in the event of a claim.
This illness policy will pay out a one-off payment that will help pay for your mortgage, medical care or make modifications to your home, should you need it.
Critical illness insurance will pay out if you get one of the specific medical conditions or injuries listed in the policy.
Please be aware that not all instances of a particular illness will be covered. The policy will state what particular conditions are covered and define these in the policy documentation.
We tend to find some customers confuse critical illness cover with life insurance, although they can be purchased together, they are completely different in terms of what they cover.
🏡 Heart Attack
🏡 Certain types and stages of cancer
Most policies will also consider permanent disabilities resulting from injury or illness and other illnesses that aren’t listed above.
More severe forms of cancer and conditions not listed in the policy might not get covered. You probably won’t be covered for health problems you knew you had before you took out the insurance, and this type of insurance doesn’t payout if you pass away.
What’s covered and what’s not will get sent in the policy details, so make sure you’re fully aware and check all documentation to make sure they protect your needs.
Many insurance products can provide you with peace of mind should something go wrong. You can find out more in the links below:
🏡 Do you need life insurance? This product will provide some financial support to your dependents if you die.
🏡 Do you need income protection insurance? This type of insurance provides regular payments if you’re unable to work due to illness or injury.
🏡 Do you need mortgage protection insurance? This umbrella term is used for various types of cover to help protect borrowers from any unfortunate events or circumstances that would prevent them from keeping up their mortgage payments.
We offer all of our customers a free, no-obligation protection review where we’ll have a look at any existing policies you have in place and assess their suitability. Remember, insurance is always hugely beneficial.
Affordability plays a massive part in the real world. A good Mortgage Advisor in Birmingham like us can tailor the type of cover to be the most suitable combination to your family’s priority and budget.