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What is Critical Illness cover?

Author

Becky Simmonds,
23 September 2021

Reading time: 5 minutes

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Critical Illness cover is a form of insurance that protects you if you are diagnosed with certain illnesses or disabilities. It pays out a lumpsum, which can be used for whatever you deem necessary, but could include:

  • Private medical treatment.
  • Necessary adaptations to your home.
  • Covering the loss of income if you are no longer able to work.
  • Enjoying time with your family, such as a holiday.

How does Critical Illness cover work?

Critical illness cover, also known as CIC, will pay out if you were to get one of the specific medical conditions or injuries listed in your policy. Some of the policies available can also make a smaller payment for conditions that are less severe. In some cases, providers allow children to be added onto a policy too.

There are two types of Critical Illness cover, standalone cover and or combined which is added to a life insurance policy. Both offer different pros and cons depending on your needs.

When you apply for a critical illness policy, one of the key things that you will need to decide upon is how much cover you would like to have and how long you would like it to last for. When you speak with a consultant, they will go through all of this with you and ask you some health and lifestyle questions which are set by the insurers. With this information, they can tell you how much the cover will cost you per month, subject to underwriting.

What does Critical Illness Insurance cover?

The list of conditions that are covered by Critical Illness policies varies between providers. However, heart attacks, strokes and some forms/stages of cancer are typically covered by critical illness cover.

Other covered illnesses commonly include:

  • Total blindness
  • Parkinson's disease
  • Multiple sclerosis
  • Major organ transplant
  • Total deafness
  • Alzheimer's disease
  • Loss of limbs
  • Permanent disability

You should check with your consultant about what's covered before taking out your policy.

Think that you and your loved ones could benefit from Critical Illness Cover? Click here to get your free quote.

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