Critical Illness

Many people often take out critical illness cover when they take out life insurance. It provides additional cover in the event that you were to suffer from a critical illness. 

Critical illness can be taken out as a single policy or alongside your life insurance.

What is covered in Critical Illness Cover?

This list is some of the types of illnesses that is covered in critical illness however, every insurance provider will have their own list of what they cover.

• Loss of hand or foot
• Loss of speech
• Major organ transplant
• Motor neuron disease
• Multiple sclerosis
• Open heart surgery
• Parkinson’s disease
• Removal of an eyeball
• Respiratory failure
• Spinal stroke
• Stroke
• Third degree burns
• Traumatic brain injury

It’s best to double check your policy wording as different insurance providers have different exclusions and limitations. Such as not all types of cancer are covered and to make a claim for some illnesses you need to have permanent symptoms.

What affects the cost of critical illness cover?

The monthly payments can vary widely, depending on the policy and your circumstances.

 The main criteria that can affect the cost:

• Your age
• If you’re a smoker or non-smoker
• Health – your current health, weight and family medical history
• Occupation- some jobs are considered higher risk than others which can lead to higher premiums
• Level of cover 

If you’re considered at higher risk for a particular condition, maybe because you have an existing health issue or you have a family history of it, that specific illness could be excluded from the policy. If you wish to stay covered for it, you may have to pay a higher premium.

The information provided on these pages is generic.  None of the information given constitutes advice or a personal recommendation.