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Is there a minimum or maximum amount of Critical Illness cover available?
When you get an quotation, the insurer providing the quotation has agreed in principle to insure you for the sum you have requested. Therefore, you do not need to worry about this issue.
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.
What is “Total and Permanent Disability”?
“Total and Permanent Disability” means that if you are diagnosed with any illness, or have an accident, that totally and permanently prevents you from working, you have a valid claim.
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.
How will a critical illness claim be paid?
If you have a claim a Critical illness policy pays you a tax-free lump sum normally by cheque. Then, as soon as you receive the payment. the policy will terminate.

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.

Policy conditions have improved:
Developments of new medical treatments are gathering pace every year and new illnesses are being recognised by insurance companies as being ‘critical’. In the early days Critical Illness policies tended to cover only the main illnesses such as cancer, heart attack and stroke. We suggest that you check your existing policy. Today most companies insure well over 20 different conditions. You can click below for further information.

Changes in your own personal circumstances:
If you already have critical illness cover you may have decided upon the level of cover based on the mortgage you had at that time. Have you re-mortgaged since? Have you changed from employed to self-employed? Have you moved from self-employed to being a director of your own business? Are you earning more than you were when you set the level of cover? Do you have a family now that would need to be provided for? Do you simply need more cover?

"An person is much more likely to have a critical illness within the period of the loan than they are to die, and the additional cost is minimal especially bearing in mind the risk. It provides a lump sum at a difficult time when many people wish to re-assess their lives."
(Source: Ronnie Martin, Protection Director for Legal & General)

Change in economic conditions:
Whilst inflation is currently relatively low, it has been high over the medium term. It could be that your current sum insured will not be enough to achieve the peace of mind you desire today.

If you insured for £50,000 in January 1979 you would need £130,000 in October 2003 to maintain a similar standard of living. Looking at it the other way your original £50,000 would now be worth just £19,000.
(Source: UK Retail Price Index)

Frequently Asked Questions related to the above topic.
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