Critical Illness Cover

Receive a cash lump sum to give financial breathing space if you suffer a critical illness.

We’ve probably all heard of a friend or relative who has been diagnosed with a serious illness, such as cancer, a heart attack or stroke. It is shocking and all the more difficult to imagine it happening to us. However, the harsh reality is that a critical illness can strike at any time. Have you considered how you and your family would cope financially?

1 in 2 people (born after 1960) will be diagnosed with some form of cancer during their lifetime – Cancer Research UK.

The good news is that with medical advances, you’re more likely to survive a critical illness, but also likely to need prolonged periods off work for treatment and recovery. Therefore, surviving an illness will often come at a cost. Mortgage/rent payments, childcare costs, council tax, food and utility bills still need to be paid. Plus there are likely to extra things to pay for like medication or adaptations to your home or vehicle, all at a time when you are likely to experience a long-term drop in income.

  • A tax-free cash lump sum when you need it most.
  • Pay for treatment, care and other unexpected costs.
  • Concentrate on getting better without rushing back to work.

Critical Illness Cover – Cause of Claims & Examples

Critical Illness Cover - Cause of Claims & Examples

FREE Children’s Critical Illness Cover

There’s so much a parent can worry about that it can be overwhelming. Particularly the big stuff, such as the thought of our children becoming seriously ill. So much so, that it can be easier not to think about it.

The harsh reality is that Children’s Cover is one of the ‘Top 5’ reasons for all Critical Illness claims. Aside from the stress and emotion, there will inevitably be financial consequences, which is why most insurers will cover your children for:

  • Up to £25,000 if they are diagnosed with a serious illness – even if they are of a congenital or familial nature.

This money could help to:

  • Pay for private medical care and specialist equipment.
  • Enable you or your partner to take some unpaid time off work to be with your child.
  • Fund a special treat like a family holiday.

If you don’t have children when you take out your Critical Illness Cover, and then go on to have them, they will often be covered at no additional cost.

We analyse the market and recommend the best cover - using CIExpert™

Many insurers offer ‘Critical Illness Cover’ – but there is a vast gulf between the better and lesser plans. Insurers will typically cover you for between 40 and 80 conditions. However, numbers don’t tell the whole story.

It is impossible for anyone to know what the best cover is without analysing each condition and also the:

  • Insurer’s definition (stated in the policy documents)
  • Severity required to ‘trigger’ a claim
  • Likelihood of each condition occurring to you (based on statistical evidence of incidence and relevance rates – specific to your gender, age and smoker status).

So how do you know which insurer will give you the best cover?

To ensure a perfect solution to a complex issue, Vita has partnered with CIExpert™ – an independent organisation that creates in-depth analysis and reports to assist our Advisers in choosing the best policy for you. CIExpert also seek to provide guidance and education to consumers in understanding the value and choice of Critical Illness Cover and pride them self on maintaining an objective view – www.ciexpert.co.uk/consumerguide

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Frequently Asked Questions

Exactly what conditions am I covered for?

Critical Illness Cover protects you against illnesses that are serious and can have a severe impact on your life. The Association of British Insurers specifies that cancer, heart attack and stroke are conditions that must be included. These three conditions account for over 80% of all claims. 

However, the top insurers will also cover you for around 40-80 additional conditions, including: multiple sclerosis, certain heart conditions, Parkinson’s and other neurological conditions, total permanent disability, partial loss of hearing/sight, partial third degree burns, Alzheimer’s disease or other forms of dementia, coma, loss of speech, hands or feet, major organ transplant, kidney or liver failure, accident hospitalisation cover, plus many more.

We will analyse each insurer’s Critical Illness Cover and recommend the best policy for your specific circumstances.  There is a vast gulf between the lesser and better policies – taking advice is essential.

When does a Critical Illness Cover policy pay out?

The insurer will pay your claim if your illness matches the definition stated within your policy. The proceeds are paid as a tax-free cash lump sum.

How much will it cost?

The price of Critical Illness Cover will vary depending on your age, your health, your job, the amount of cover you want and maybe even your hobbies. This is why price comparison site quotes are often meaningless as they won’t account for your specific individual circumstances.

We will provide you with accurate premiums from the outset. Nobody likes to see a price and then be told it’s not available to them.

The Critical Illness Cover policy you buy is there to protect you and your family – not anyone else – so it’s worth finding a policy that will exactly suit your needs.

Do I get any money back if I don’t claim?

No. For the period you are insured you continue to pay a relatively low premium in relation to the amount of cover. If you haven’t needed to claim then this is ideal – you’ve had peace of mind the entire time and you’ve not suffered a serious illness.

It’s no different to car insurance – which won’t pay out if you don’t have an accident – or pet insurance – which doesn’t pay out if your pet stays well.

How much cover should I have? And for how long?

We don’t do off-the-shelf. We genuinely care about getting the right cover for you. Your circumstances may be similar to someone else’s, but never identical. Our consultative approach means that you’ll feel listened to and understood. Also, you’ll get a solution that’s tailored to your personal needs.

What is the difference between a Critical Illness and a Terminal Illness?

Terminal Illness Benefit: Most insurers include this benefit free of charge with Life Insurance policies – it is completely different to Critical Illness Cover. Terminal Illness Benefit will ensure that the policy proceeds are paid out early if you are given typically 12 months or less to live.

Critical Illness Cover: The illness doesn’t have to be life threatening or fatal for you to make a claim. Provided your condition matches one of those listed under your policy then the claim will be paid – regardless of if, or how quickly, you recover.

Can I have a policy that includes both Life Cover and Critical Illness Cover?

Yes. The policy will pay out upon the event of death or diagnosis of a critical illness, whichever happens first.

Our friendly Advisers are available to answer your questions, provide expert advice and make recommendations – so please call us on 0800 988 36 37 – or you can request a call back.