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Information on
plans available. |
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CRITICAL ILLNESS COVER
What is critical illness cover?
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If you are diagnosed as
suffering from one of the specified critical illnesses (see
below) or in some cases disabilities during your chosen term
and, as a stand-alone product, survive for at least 28 days, you
will receive a guaranteed lump sum.
These plans will normally only pay out once and then end. You
can however get plans that will pay out the Critical illness
benefit and continue to provide life cover. Though these plans
will be more expensive than what is called first event plans, in
a lot of cases the increased cost is far less than you would
expect. This type of benefit is also known as cover buy back
option.
Specified Critical Illnesses and Disabilities
The following illnesses or disabilities are purely an indication
as to what is available in the market place. Some plans have
this level of conditions covered though some plans do not. With
this in mind if there are particular conditions that you would
like covered in your plan you should check the key features
document to ensure that they are. You could also inform your
adviser.
Alzheimer's disease before age 65.
Angioplasty
Aorta graft surgery.
Bacterial Meningitis
Benign brain tumour.
Blindness.
Cancer (most malignant types).
Coma.
Coronary artery by-pass surgery.
Deafness.
Heart attack.
Heart valve replacement or repair.
HIV/AIDS from assault.
HIV/AIDS from bloody transfusion
HIV/AIDS from occupational duties or accident
Keyhole Heart Surgery
Kidney failure.
Loss of independent existence
Loss of limbs.
Loss of speech.
Major organ transplant.
Motor neurone disease before the age of 65.
Multiple sclerosis.
Paralysis/paraplegia.
Parkinson's disease before age 65.
Permanent and total disability before age 65 (any occupation or
own occupation definition).
Pre-senile dementia before age 65.
Stroke.
Third degree burns.
The one very important thing to remember about critical illness
insurance is, normally regardless what the outcome of any
condition you still get the payment. That is a very important
point to remember as it means that if you have a heart attack
for example and get better the life company should still pay out
the sum assured as long as a specialist confirms that you have
indeed suffered a heart attack.
Now obviously policy conditions and wording differs from company
so always check that your policy does exactly what you want it
to do and if you are unsure get you Independent Financial
Advisor to have a look at the policy for you.
If you don’t already have a critical illness policy then make
sure you get full Independent Financial Advice on all the best
critical illness products and plans available for you and your
situation.
Most critical illness policies are taken out to cover mortgages,
as people understand the value and importance of protecting a
debt. Think if something was to happen to you how easy would the
recovery be if you had no mortgage to worry about?
Beyond mortgages however you can still have this sort of
protection, a lot of people think, and quite rightly so, what
would happen if I die? Well think what would happen if you
don’t?
That is just what critical illness plans are for, they are for
what happens if you suffer something serious and you don’t die,
you might still be unable to work but your family won’t have the
benefit of any life cover as you have not died, not very nice to
think about but never the less very important to consider. As it
is a valuable benefit the premium does reflect it, but a benefit
that is more than worth having especially with the advances of
medical science. It is quite a testament medical science to
having these conditions and still living, you just have to
consider the financial impact of events like this, especially
when you look at the extent of the conditions covered by some of
the companies.
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Remember we are only a phone call
away
0845 22 55 171 |
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Invest & Protect
59 Market Street
Wirral
Cheshire
CH47 2BQ
Tel
0800 083 6050
Fax
0151 632 2117
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Here at Life cover quotes we deal
with all the major insurers for a full list see the box
below. |
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Insurance Company list
Bright Grey
Legal & General
Scottish Provident
Norwich Union
Liverpool Victoria
Standard Life
Scottish Widows
Friends Provident
Synergy
BUPA
Clerical Medical
Eagle Star
Zurich Life
Axa
Skandia
Sun Life
Scottish Life
and many more! |
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Did you no know non smokers rates
can be 50% cheaper than smokers rates. It pays not to
smoke. |
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