What information do you need to provide to apply for a Critical Illness policy?

The Application form will ask questions regarding your height, weight, age, sex, current state of health, occupation, hobbies etc.

STEP 1 of 2
Type of cover
Life Insurance       Mortgage Life Insurance
 
Cover Level (£)

Number of years
Do you want:  
Critical illness cover
Family income benefit
 

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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.
Is there a waiting period to receive payment on a Critical Illness claim?
All Critical Illness policies require you to survive a specified number of days following diagnosis in order to have a valid claim. The typical survival period is 28 days but some insurance companies have reduced this to 14 days.
What other benefits can be added to a Critical Illness policy?
Life cover is a must. Then consider Waiver of Premium and Indexation.
Is there a minimum or maximum premium for critical illness cover?
Minimum premiums vary from company to company but they can be as little as £5 per month.
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.
This enables the insurance company to gauge the degree of risk you represent. If they are satisfied they will accept you at the price originally quoted.

If for any reason they feel you represent an ‘above average’ risk, the insurer may offer one of these alternatives:

  • they may offer to insure you but at a higher premium. (This is called a “Rated Premium”.)
  • sometimes they may offer you the alternative of covering yourself for a lower sum insured

The point is that in all these situations like these, an Underwriter at the insurance company will personally examine your Application and all Applications are considered on their own merits.

 

Frequently Asked Questions related to the above topic.
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