Protect yourself against being diagnosed with a serious illness
Critical Illness Insurance Cover (CIC) will pay you the tax free lump sum you insured for if you are diagnosed as having any one of a wide range of specified illnesses including certain types of cancer, heart attack, stroke, brain tumour and many more. This cover was originally developed to help people pay very large private medical bills associated with cancer treatment and the like, but it now also covers all the other financial commitments you will still have, even if you have a major medical or health event.
Everyone, especially single people, should have Critical Illness Cover if they can afford it, but Income Protection Insurance is even more basic and comprehensive and should come first for those on limited budgets. Those with financial dependents should also have life cover, but remember, life insurance won't pay out unless you die or are diagnosed with an illness which will be terminal within 12 months.
Because Critical Illness Insurance Cover (CIC) pays out when an illness or event specifically listed in the policy happens, it is vital to get the most comprehensive policy. Virgin and Direct Line have policies we regard as sub-standard for example. Buying because it's the cheapest is normally stupid in life, but never more so than with Critical Illness Cover. A basic plan can cover the most often occurring critical conditions, but a comprehensive plan covers many more including loss of sight, total permanent disability and hearing loss, as well as many of the very specific types of Heart Attack or Cancer, cheaper policies will ignore.
It's vital when taking out critical illness to disclose all health conditions past and present, which is why we have a telephone interviewing team to go through the medical questions with you. They are you best protection against insurers dodging claims. And because claims happen 6 times more often than on Life Insurance, you want to have a claims desk on your side, as well as counselling and advice on how to cope after such shattering news. we are, we think, the only adviser in the country who provides all these to customers as standard.