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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).
Hot Topics
- Can You Include Your Partner On Your Critical Illness Policy?
- Yes, as with Life insurance, Critical Illness policies can insure one or two lives.
- Why, when you only want Critical Illness cover, should you consider combining it with Life Insurance?
- Two good reasons: You are likely to save money! And if you died within the survival period (see below), the claim would still be paid under the terms of your Life Insurance.
- 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.
- Will a claim for critical illness affect any State Benefits?
- No, it should not affect your claim for State Benefits.
- 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.
Frequently Asked Questions related to the above topic.
Click below if you wish to read them: -
- What conditions are considered critical?
- What level of Critical Illness cover could your children get?
- Are future children included on a Critical Illness policy?
- Can you include your partner ?
- Can You Include Your Children On A Critical Illness Policy?
- What decisions will you have to make before you can get a quotation?
- Will you need a medical ?
- Can you increase or decrease your critical illness cover at a later date ?
- Can the critical illness policy be continued after a claim ?
- What happens if your condition improves after a claim ?
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