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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.
How long should you insure for?: 20 to 25 years is most common but it really depends on how much you can afford and your personal circumstances.
What decisions will you have to make before you can get a quotation?: You will have to make four decisions:
What level of critical illness cover could your children get?: Insurance companies normally impose a maximum limit on any claim under the policy’s provisions for children. Sometimes the limit will be lower of a percentage of your own sum assured (e.g. 25% or 50%) or a set amount (typically £15,000 or £20,000).
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.

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.

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.
Click below if you wish to read them: -

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Hot Topics

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.

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: -