Can you extend or increase your Critical Illness cover at a later date?

If you have a policy with a renewable option then yes, you can increase, or sometimes extend, your cover. If you do not have a renewable option then you cannot change your cover. These days only a few insurance companies offer policies with a renewable option.

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Is there a minimum or maximum amount of Critical Illness cover available?: When you get an quotation, the insurer providing the quotation has agreed in principle to insure you for the sum you have requested. Therefore, you do not need to worry about this issue.
What other benefits can be added to a Critical Illness policy?: Life cover is a must. Then consider Waiver of Premium and Indexation.
Are future children included on a Critical Illness policy?: All natural, step and legally adopted children are insured under a Critical Illness policy so long as they are aged between 1 and 18 years (although some companies only consider children from aged 3).
Will you need a medical if you apply for a critical illness policy?: In order to correctly assess the risk they are being asked to accept an insurance company may require further information from your GP or request that you undergo a medical. In most cases these medicals only take five or ten minutes.
How will a critical illness claim be paid?: If you have a claim a Critical illness policy pays you a tax-free lump sum normally by cheque. Then, as soon as you receive the payment. the policy will terminate.

If your policy is renewable then this means that you can alter your policy's benefits but often only within specified limits. There may also be the ability to increase the sum insured or even add other types of insurance such as life cover. Sometimes these changes can be made without further medical reports.

If the policy is not renewable then you simply have to take out a replacement or additional policy. (If you apply for a replacement policy do not cancel your existing policy until you have received the "On Risk" Notice for your new policy. You never know there could be a hitch with your new policy and if you finish your existing policy you can't restart it).

Frequently Asked Questions related to the above topic.
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Can you extend or increase your Critical Illness cover at a later date?

If you have a policy with a renewable option then yes, you can increase, or sometimes extend, your cover. If you do not have a renewable option then you cannot change your cover. These days only a few insurance companies offer policies with a renewable option.

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Frequently Asked Questions related to the above topic. Click below if you wish to read them: -

Frequently Asked Questions related to the above topic.
Click below if you wish to read them: -