Why do I need critical illness cover?

1 in 5 men suffer a critical illness before their normal retirement age. 1 in 6 women suffer a critical illness before their normal retirement age.

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
 

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.
Are Critical Illnesses In Pregnancy Covered?
Pregnancy does not affect any claim under critical illness insurance. It would be hard to make a case that pregnancy was a ‘self-inflicted injury’!
Will Critical Illness policies permit the use of alternative medicines?
After you have been diagnosed with a qualifying Critical Illness and the claim has been paid you can spend your money however you like. So if you want to spend some of your money on alternative medicines then that’s entirely your choice.
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.
What information will be needed at the time of a Critical Illness claim?
For a Critical Illness claim to be successful the insurance company’s claims department will need evidence that you have been diagnosed as having one of the listed critical illnesses. This evidence will normally come from a Hospital Consultant who is a specialist in the illness which has been diagnosed.
Critical Illness is far more common than many of us think. The average age for a critical illness claimant is 47 (Source: Munich Reinsurance Co 2000).

You may think that “it won’t happen to me” and we genuinely hope that it won’t, but please consider the following facts: -

  • 35% of men and 46% of women who have cancer survive at least 5 years
  • 78% of stroke sufferers survive more than a year.
  • 1 in 5 men and 1 in 6 women suffer a critical illness before their usual retirement age.
  • In 1999: in the UK 40,989 women were diagnosed with breast cancer, which is 136 for every 100,000 women
  • 23,456 men were detected with lung cancer in the UK. This represents 83 cases per 100,000 men. 1,990 men were newly diagnosed with testicular cancer. This is a rate of 7 cases per 100,000 men.
  • In 2000: there were 112,066 of all types of cancer diagnosed for women and 111,543 for men. At total of 223,609 new cases of cancer diagnosed.
    (Source: Cancer Research UK)

Are these risks you would want to ignore?

Of course, it may not happen to you, but isn’t it better to know that you have the financial resources in place just in case? Critical Illness Insurance can provide that peace of mind.

Critical illness insurance pays you a tax-free sum of money if you are diagnosed as having a serious, chronic or terminal illness which is listed on the policy, or if you require a specific type of operation which is listed on the policy or if you suffer from any condition or have an accident that totally and permanently prevents you from working.

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