All Critical Illness Cover
Aviva Critical Illness Cover
Aviva's Critical Illness Plan pays out a lump sum if you are diagnosed with a critical illness that meets their policy definition during the term of the policy and survive for at least 10 days. Aviva only cover the critical illnesses they define in their policy and no others. There is no cash in value and it won’t pay out if you die. If you stop paying your premiums your cover will end.
Legal & General Critical Illness Cover
In 2016 alone Legal & General paid claims to 2788 customers, helping them and their families when they needed them most. They paid out £181million in 2016 in critical illness cover claims. 92.56% of claims were paid out in 2016. Their claims staff are trained by the Samaritans to deal with bereaved family members. They focus on offering products that help meet their customer’ needs throughout life.£75 Amazon.co.uk or M&S e-gift card for switching to L&G (offer ends November 30th 2017).
Royal London Critical Illness Cover
When you choose Life or Critical Illness Cover, Royal London automatically insure your children for the same list of critical illnesses. They’ll be covered from birth up to age 21 for 50% of the amount you’re insured for, up to £25,000. That’s any child you have now or at any time during the life of your plan – including stepchildren and legally adopted children. It also comes with Additional Conditions Cover which pays 25% of the amount you're insured for, up to £25,000.
VitalityLife Critical Illness Cover
You're up to 3 times more likely to get a payout with Vitality. 116% more likely to get a payout for cancer with Vitality. 34% more likely to get a payout for heart attack. 25% more likely to get a payout for a stroke. Vitality Life cover nearly 4 times as many conditions. They cover all heart attacks and strokes and cover more cancers than any other insurer. Vitality payout based on how severe your condition is. They cover the earlier stages of certain conditions. You can claim more than once if you have cover left.
What is critical illness cover?
For most of us, the older we get, the more we worry about becoming critically ill. As a result, many people choose to buy critical illness cover to protect against expensive medical fees and support you if you are unable to continue working.
If you become seriously ill or become affected by a disease or disability, a critical illness policy could pay out a lump sum of money to lessen the financial burden on you and your family.
As you can imagine, trying to stay on top of your finances after being diagnosed with a life-changing condition is tough. That’s why critical illness cover is available to support you throughout that time. The payout you receive is completely tax-free and can go towards your medical expenses, rent, bills or daily living costs. There is no restriction as to what you spend the money on so you could decide to treat yourself and your family to one last luxury holiday or other memory-making experiences.
Most policies specify how serious your condition must be before they will pay your claim, with many only paying out if you’re likely to have permanent symptoms. As long as you are diagnosed with a condition named in your policy and it is at the level of severity specified, you can make a claim and receive a payout.
One thing to bear in mind is that if you die suddenly, your critical illness policy won’t pay out. Therefore, you may want to also take out a life insurance policy if you’re worried about your dependants needing financial support after your death.
FAQs about critical illness cover
What does a critical illness policy cover?
Some of the common conditions covered include cancer, heart attacks and strokes, though it will depend on the policy you take out.
Is critical illness cover the same as life insurance?
No, your critical illness policy won’t pay out if you die. Therefore, you may want to also take out a life insurance policy if you’re worried about your dependants needing financial support after your death.
How much does critical illness cover cost?
The cost depends on how much cover you want and how long you want the policy to last. Your age will also affect the monthly premium you pay.
Who is eligible for critical illness cover?
To be eligible for most critical illness policies, you should be over 18, under a policy's upper age limit when you apply, and not already diagnosed with the illness you want cover for.
Does smoking affect my critical illness policy?
Yes, if you smoke, or have previously been a long time smoker, your policy is likely to be more expensive because you have a higher risk of developing a serious medical condition later down the line.
Will a critical illness policy cover my existing conditions?
Some policies will include cover for existing conditions but many won’t pay out for them. You should speak with each insurer to see if they’ll provide cover with the exception of your existing condition.
Can I get cover for a hereditary condition?
It depends on the insurer. Some may offer you cover with a higher premium, while others may not offer you cover for the specific condition.