Hot Topics

Why do you need to consider a new Critical Illness policy if you already have one?: Because older policies were often limited in the illnesses they covered; your own circumstances may have changed; you may now need to increase the sum insured.
Can You Include Your Partner On Your Critical Illness Policy?: Yes, as with Life insurance, Critical Illness policies can insure one or two lives.
Are You Allowed To Continue Working After A Critical Illness Claim?: Once an Insurance company has paid your claim it has no interest how you live your life or what you go on to do.
What happens if your condition improves after making a claim on your Critical Illness policy?: Once the insurance company has paid you the money is yours to spend how you like. The policy is terminated and your insurer has no interest on how you live your life or indeed whether your condition improves or is healed.
What happens if your condition deteriorates after making a claim on your Critical Illness policy?: As far as your insurance is concerned, it makes no difference. Your policy has already paid out and your ex- insurer has no further interest in your health.

Should you have a “Guaranteed” or a “Reviewable” policy?

When a policy is first started Guaranteed policies have higher premiums than Reviewable policies - but in the longer period Reviewable policies generally work out more expensive.

With a Guaranteed policy the insurance company guarantees never to increase your premium at any time during the policy’s term.

With a Reviewable policy your insurer reviews your premium at regular intervals (normally every 2 to 5 years but this interval does vary between insurance companies).

At each review the insurer has the right to increase your premium. In our experience, Reviewable policies tend to experience price increases somewhat higher than inflation.

When a policy is first started Guaranteed policies have higher premiums than Reviewable policies - but Reviewable premiums can soon catch up. In our experience, Reviewable policies generally work out more expensive over time.

Just one quick point.

Many insurance companies no longer offer Guaranteed rates for combined Mortgage Life Insurance and Critical Illness policies. However, if you ask for a quote on a “Guaranteed” Life Insurance and Critical Illness policy - and the brokers can source one for you - you should seriously consider it.

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

-- Please Note --
This web site is owned by Andromeda Webs Ltd. Andromeda Webs Ltd, is an Appointed Representative of Web Publishing House Ltd. Web Publishing House Ltd is authorised and regulated by the Financial Services Authority for insurance mediation.

Hot Topics

Should you have a “Guaranteed” or a “Reviewable” policy?

When a policy is first started Guaranteed policies have higher premiums than Reviewable policies - but in the longer period Reviewable policies generally work out more expensive.

Just one quick point.

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: -