What does critical illness insurance cover?

Never heard of critical illness cover? Let’s get you clued up!

We’ve all heard of people becoming critically ill, and with the stats seemingly becoming scarier by the day, getting the right cover for your circumstances has never felt so important.

Critical illness 101

A critical illness insurance policy can help financially protect you if you were to become critically ill. This policy works by paying out a lump sum if you were to be diagnosed with a critical illness as defined in your policy conditions.

Having this policy in place can provide both you and your family with a sense of comfort knowing that if the worst were to happen then this cover could protect them!

What illnesses does this policy cover?

Before we get into what this policy can cover, it’s worth remembering that each life insurance provider offers something different when it comes to critical illness cover. No two policies are ever the same either as everyone’s own policy is based on their personal health. So with this in mind, without stating the obvious, a critical illness policy is designed to cover you.

Most critical illness policies will cover you against the following:

• Heart attack
• Cancer
• Loss of sight
• Organ failure
• Multiple sclerosis
• Loss of limbs
• Parkinson’s disease
• Stroke
• Alzheimer’s disease

Each life insurance provider has their own definition of each illness and condition they cover, so with most providers you must meet their definition to be able to start your claim!

Who needs it?

When it comes to life insurance, there is no one size fits all. Everyone is different, so of course, everyone’s life insurance needs are different too!

Those who could benefit most from a critical illness policy are:

• Parents
• Anyone with low savings
• If you are self-employed
• Anyone with dependants

The above examples are some of the most ‘at risk’ types without a critical illness policy in place. However, you don’t have to meet this criteria to be able to benefit from a critical illness policy!

How much critical illness cover do you need?

Our protection specialists give tailored advice about critical illness cover. All this means is that they take into account several different factors before providing you with what they think are the best options for you.

We consider how much your yearly income is, any outstanding debts you may have, and how much you have in savings - just to name a few! Once your circumstances have been assessed and we’ve weighed up your options, we then make our recommendations of how much cover you need. To find out how much your critical illness policy could cost in just 30 seconds - try our new critical illness calculator. 

Can you get critical illness cover on its own?

Yes, you can get critical illness cover on its own - this is often called standalone critical illness cover. This means you would be covered if you were to be diagnosed with a defined critical illness.

What is life and critical illness cover?

Life and critical illness cover is when you combine both a life insurance policy with a standalone critical illness policy.

With this cover in place you would be protected against both critical illness and death - it’s a win win! You get the security that you are protected against both eventualities but once you have claimed on one element of the policy, then your cover will end. For example, if you were to become critically ill and make a valid claim the policy would end. Vise versa, if the worst were to happen and a claim was made on the life element of this cover then the policy would end.

Busy Bee is dedicated to helping even the busiest of bees find the right life insurance policy. Click below to start your free quote and be one step closer to getting your life insurance sorted!