UK Critical Illness Insurance

Critical Illness is an insurance cover that would provide you with a lump sum of money should a major illness be diagnosed, whilst cover is provided for a critical illness it does not provide insurance should a death occur.

The fact that critical illness does not cover death means that this kind of cover works well in association with Life Insurance and should such a major illness be diagnosed then this type of protection can provide capital both for your family and business.

Major illness’s usually covered by this type of insurance:
Alzheimer's Disease - Kidney Failure - Aorta Graft Surgery - Loss of Limbs - Benign Brain Tumour - Loss of Speech – Blindness - Major Organ Transplant - Cancer - Motor Neurone Disease - Coma - Paralysis - Coronary Artery Angioplasty - Parkinson's Disease - Coronary Artery By-Pass Surgery - Stroke – Deafness - Third Degree Burns - Heart Attack - Total and Permanent Disability - Heart Valve Replacement/Repair.

Whilst annual premiums are available premiums are usually paid monthly, some insurance companies offer whole life plans whilst some will put a maximum age restriction on their policies.
Once a criticall illness is diagnosed a claim cannot be made until a period of time has lapsed after the diagnosis (normally 28-30 days).
A tax free lump sum will normally be paid out, but some plans have the option of an income instead of a lump sum.

Underwriting considerations
Before accepting to offer cover an Insurance Company will take into account and examine the following :- Your medical history, age, gender, whether you are a smoker, which diseases you want to cover, the term you want to cover.