Is Critical Illness Insurance Essential?

Critical illness cover is a long-term insurance policy covering severe illnesses listed within a policy.  

At the time of taking out the policy, you will need to disclose any underlying medical conditions. This may result in some illnesses getting excluded from the cover. Failure to disclose any underlying medical conditions could make the policy void in the event of a claim. 

This illness policy will pay out a one-off payment that will help pay for your mortgage, medical care or make modifications to your home, should you need it. 

What does critical illness cover? 

Critical illness insurance will pay out if you get one of the specific medical conditions or injuries listed in the policy. 

Please be aware that the policy will cover not all instances of a particular illness. The policy will state what specific conditions are covered and define these in the policy documentation. 

We tend to find some customers confuse critical illness cover with life insurance. Although they can be purchased together, they are entirely different in terms of what they cover. 

Examples of critical illnesses that might get covered include: 

???? Stroke 

???? Heart Attack 

???? Certain types and stages of cancer 

Most policies will also consider permanent disabilities resulting from injury or illness and other illnesses that aren’t listed above.

What isn’t covered? 

More severe forms of cancer and conditions not listed in the policy might not get covered. You probably won’t be covered for health problems you knew you had before you took out the insurance, and this type of insurance doesn’t payout if you pass away. 

What’s covered and what’s not will get sent in the policy details, so make sure you’re fully aware and check all documentation to make sure they protect your needs. 

Other types of insurance you might need 

Many insurance products can provide you with peace of mind should something go wrong. You can find out more in the links below: 

???? Do you need life insurance?

???? Do you need income protection insurance?

???? Do you need mortgage protection insurance?

Our Critical Illness Insurance Advice service in Leeds

We offer all of our customers a free, no-obligation protection review where we’ll have a look at any existing policies you have in place and assess their suitability. Remember, insurance is always hugely beneficial. 

Affordability plays a massive part in the real world. A good Mortgage Advisor in Leeds like us can tailor the type of cover to be the most suitable combination to your family’s priority and budget.