critical illness cover faq

Critical Illness Insurance FAQ

What points should I think about when choosing a Critical Illness Policy?

Firstly you need to decide the size of the tax-free lump sum you would need if you were diagnosed with an illness, which prevented you from working again.
Factors to bear in could be the need to pay off a specific debt like a mortgage, or the costs of providing nursing support or paying for further medical assistance. By considering these issues you can come up with an annual expenses figure.

When buying critical Illness insurance, will I need a medical?

Initial critical illness insurance quotes assume that you are in reasonable health for your age. If you proceed with a quote, you will then have to complete an application form from the chosen life insurance company. This application form will ask for information about your health. This is because the life insurance company needs to assess whether you are an acceptable risk.

When would the policy pay out?

This insurance provides a lump sum on diagnosis of a critical illness during the cover period and survive for 28 days or if you become totally and permanently disabled within the cover period.
Can my children have critical illness cover?
Your children are also covered for the stated critical illness conditions while they are aged between 3 and less than 18 years, as long as the policy is in force.