What is Critical Illness Cover?

What is Critical Illness Cover?

Over the coming weeks, The Cheapest Life Insurance will be sharing some key information about life insurance and the types of cover available to you.

From Critical Illness Protection right through to Mortgage Protection Cover, we’ll be giving you some facts and perhaps even a bit of history to enable you to understand what you may need when looking for cover for you or your loved ones.

Critical illness cover (or critical illness insurance) is an insurance type that gives you a tax free, lump sum payment should you be diagnosed with a critical illness.

cheapest life insurance

Critical illness cover itself can vary with different life insurers who will have class different types of illnesses as critical and of course some which are not deemed to be critical.  The valid critical illnesses are usually listed within the insurance policy documents.

In some cases, critical illness insurance may pay out a regular income over a defined period – for example for someone who has been diagnosed as needing a heart bypass operation.

Some historical facts about critical illness insurance

The concept of critical illness insurance was devised by Dr Marius Barnard and subsequently the first product launched on October the 6th, 1983 in South Africa.  At that time though it was called dread disease insurance.

However, since its first launch critical illness insurance has been adopted worldwide.

Originally, critical illness cover was intended to provide financial protection to people following a diagnosis or treatment of a critical illness, but these days it has become much more advanced and therefore complex. However, on the plus side, it does mean critical illness cover is open to a lot more people.

What kind of critical illnesses are covered?

This is very specific to the insurer that you use but critical illness insurance can cover:

  • Heart attacks
  • Cancer
  • Strokes
  • Heart by-pass surgery
  • Alzheimer’s disease
  • Blindness
  • Deafness
  • Kidney failure
  • Parkinson’s

What critical illness insurance can help with:

Should you be diagnosed with a critical illness then if you have cover you could get a sum of money to assist with paying the costs of treatment and care, recuperation aids, living costs, lifestyle changes and a whole lot more.

Risk assessment

This is usually something people do worry about as they are unsure if their previous medical history will be an issue.  However, with critical illness cover being a much more sophisticated type of cover now, there are a number of policies available that offer people the protection they need with little fuss.

If you need critical illness cover and want to protect your family and yourself from life’s unpredictable nature, why not give us a call or fill out our ‘quick quote’ form and get covered today!

With premiums from just £5 per month, critical illness insurance is more affordable than you might think and for what is a small investment each month you can get peace of mind.


Comments are closed.