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FAQ Home | General Questions | Critical Illness Insurance | Life Insurance | Home and Contents Hot Topics
How much does the critical illness cover cost?The cost of a Critical Illness policy depends on the amount of cover you need, your personal details (especially your health and age) and the optional extras you select.Your age, health, sex, occupation and lifestyle particularly affect your premium. If your family has a history of serious illness such as cancer or heart disease this may also result in you paying a higher premium. All the Critical Illness insurance we offer insures you for Total and Permanent Disability. This means that if you contract any condition or have an accident that totally and permanently prevents you from working, then you have a valid claim. Critical illness insurance can be chosen as either a “stand alone” policy or combined with Life Insurance. The advantage of having both Critical Illness AND Life Insurance is that if you were to die within the survival period, your policy would still payout under the provisions of its Life cover. Insurance premiums are not eligible for any personal tax relief although all payouts are tax-free. Top TipIt is highly likely that if you combine Life and Critical Illness insurance into one policy it will be cheaper than buying Critical Illness just by itself! How’s that for value! It happens because the insurance companies can apply various internal company tax allowances to their pricing of combined Life and Critical Illness policies but these allowances are not available for stand-alone Critical Illness policies. It doesn’t always work out cheaper but for most people it is! Frequently Asked Questions related to the above topic.
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