Did you know you can upgrade your critical illness cover?


Let’s delve into an important, yet often overlooked area of life insurance: critical illness cover. We’ll answer some of the top asked questions surrounding this subject.

Is this type of life insurance right for parents? Is the enhanced version better? Can this policy offer you peace of mind? How does it protect your loved ones?

Diving into the basics

Before we look into what the enhanced version of this policy is, it’s essential to understand what the standard version is first.

Critical illness cover is a life insurance policy that can cover you for a long list of critical illnesses. Not just any illnesses though, these are severe health conditions like heart disease, cancer, stroke - the type of diagnoses you never hope to hear.

Your policy can offer you a lump sum payment, if you were to be diagnosed with a critical illness specified in your policy conditions.

How is the enhanced version different?

Think of an enhanced critical illness insurance policy as the supercharged version of this type of life insurance. At its core, critical illness cover is a type of life insurance policy that can provide financial support if you were to become seriously ill.

This type of life insurance covers even more conditions than the standard version of critical illness cover. So by securing the enhanced version of critical illness cover, you’ll have even more peace of mind.

Why is having this cover in place so important?

Now you know that the enhanced version of a critical illness policy covers you for more illnesses than the standard type. Let's talk about why it's so important.

Most importantly, being covered for more illnesses, can give you more peace of mind. You can get on with living your life, knowing your cover could pay out a lump sum if you became ill with an illnesses, as specified in your policy conditions.

This financial backing from your cover could be a godsend, if the unthinkable were to happen. This money can contribute towards medical costs, replace any lost income you may suffer, or even fund any necessary adaptations to your home.

How could enhanced critical illness cover help you?

If it suits your affordability, and you think you’d benefit from the extra peace of mind, there are plenty of reasons why the enhanced version of critical illness cover should be on your radar, here are just a few:

• Financial security: The main reason behind getting any life insurance policy. This life insurance policy offers a financial safety net, relieving the burden of handling finances when your focus should ideally be on your recovery.
  
  
• Extensive cover: If you’re a worrier, being covered for more illnesses could put your mind at ease. Enhanced critical illness cover will typically include a more comprehensive array of diseases compared to the standard type, increasing your chances of receiving a payout if you unfortunately fall sick.
  
  
• Early stage coverage: Unlike traditional policies, some enhanced plans cover early-stage diagnoses. This feature means that if you were diagnosed with an illness at an earlier stage, you may still be able to claim on your cover.
  
  
• Use the payout for what you want. The payout from an enhanced critical illness insurance policy isn't earmarked solely for medical expenses. You could use the funds to cover everyday living costs, help pay off a mortgage, or afford any necessary modifications to your home, such as installing a wheelchair ramp or a stairlift. In a nutshell, you can use the money to maintain your standard of living and ease the strain on your wallet during a difficult time.
  
  

Are you a young adult?

We all think we’re invincible in our youth. However, the truth is, illnesses don't discriminate, and it's never too early to prepare for the unexpected.

Enhanced critical illness insurance offers a safety net by providing a payout upon diagnosing a broader range of illnesses than standard policies. It can help cover medical expenses, living costs, or even help manage loan repayments. Meaning you can focus on what really matters, your health and recovery.

One of the main reasons why you should look to secure your life insurance premium as a young adult is, the younger you are, the lower your premiums tend to be. By choosing an enhanced critical illness cover early on, you can lock in a lower premium, so you’ll have comprehensive protection for the future at a rate that’s affordable to you.

Are you a parent?

Parents, picture this: a safety net that's got your back, covering you against a whole load of health scares. When you take out any life insurance as a parent, you’ll know that it's not just about you, it's about their future too.

Here are some of the top reasons to consider this type of life insurance, as a parent:

• Keeps your family afloat: This type of life insurance is like a financial life jacket taking some of the money worries off your plate when you need to focus on getting better.


  
  
• Wider safety net: Enhanced policies usually cover more illnesses than standard ones, upping the chances of a payout if you or a loved one falls ill.


  
  
• Early birds: Many enhanced policies cover early-stage diagnoses. So even if an illness is caught early, you might still be able to claim.


  
  
• Your money, your choice. The payout is yours to do what you want with. You can use it to cover everyday living costs, chip away at your mortgage, or adapt your home, if needed. This money can help maintain your family's lifestyle and ease financial stress during a tough time.
  
  
• Young families: The younger you are when you get a policy, the lower your premiums usually are. Getting your cover sooner rather than later could be a money savvy move for young families.



Why not try our critical illness insurance calculator?

If you’re not ready to commit to the enhanced version of this cover, and you’re wanting to see how much the standard version of this cover could cost. Or maybe you’re just not sure about life insurance altogether. Why not try out our critical illness calculator to find out a rough estimate of your costs?

In just 3 simple steps, you could see a rough estimate of how much your policy could cost. Our handy tool is designed to give you a ballpark estimate of your life insurance costs, faster than you can say “Busy Bee”.

Aviva’s critical illness plus

Aviva, one of the largest insurers in the UK, provides an advanced version of critical illness cover, aptly named ‘critical illness plus’.

This policy covers a whole host of critical illnesses (significantly more than their standard policy) plus it covers children up to the age of 18 at no extra cost and offers payout upon specific severe illness diagnoses.

AIG


Their enhanced critical illness cover lives up to the term 'enhanced'. It includes pregnancy cover, and also a wide range of other critical illnesses. What sets it apart, is the broad range of conditions covered, including those often overlooked by many providers.

This policy is designed to kick in when you need it the most, providing a financial safety net to help manage everything from medical costs to lifestyle adjustments necessitated by the illness. AIG goes the extra mile to ensure their enhanced cover is worth it.

Legal & General

On the other hand, Legal and General are known for their longevity in the insurance market and their Critical Illness Cover is no exception to their commitment to reliability. What stands out in their enhanced policy is the inclusion of child cover at no extra cost - a significant relief for parents.

The policy also covers many conditions, including those often excluded from standard critical illness covers, such as multiple sclerosis and loss of sight, hearing, or speech. They bring their substantial experience to bear in crafting a policy designed to provide a comprehensive safety net, making it a strong contender for those looking for more in-depth coverage.

Vitality

Last but not least, we've got Vitality. They’re one of the UK’s leading life insurance providers, and their approach to critical illness cover is a bit different.

Firstly, they call it serious illness cover. But unlike other types of critical illness policies, rather than just covering a specific list of conditions, they cover a vast amount of conditions, and also offer a severity-based payout.

In a nutshell, what this means is the payout amount depends on how severe your illness is. This can be especially beneficial if you're diagnosed with a less severe condition that still impacts your lifestyle and finances.

Always seek advice

Remember, these are just a few examples of the providers offering an advanced version of a critical illness policy in the UK. It’s always best to seek advice from experts, when it comes to any life insurance.

Our advisors will always consider your needs, affordability, and circumstances. We don’t just look at the cost of your cover. We also assess what level of cover you need and how the pay-out, and provider could benefit your family.