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Critical Illness Cover Advice

Critical illness cover is one way of achieving financial security in the event of a medical emergency. Critical illness insurance is highly recommended if you are the household’s main breadwinner or if you have a family history of some medical conditions.  

What is critical illness cover?

Critical illness insurance is an insurance policy that pays a lump sum to the insured party if they experience a serious illness, such as a stroke, heart attack, cancer, or loss of limbs. The money is typically used to create financial security while the individual cannot work, but it can usually be spent without restrictions.

Why use an adviser to help consider critical illness cover?

Searching for the most appropriate critical illness cover can be time-consuming, stressful, and full of potential pitfalls. Moneysprite’s critical illness cover advisers can take those worries away by consulting with you on your needs and then comparing the most suitable critical illness policies available. We’ll even prepare and submit your application on your behalf.

With our team on your side, we can help source and apply for advantageous policies swiftly and seamlessly.

How does critical illness cover work?

Critical illness cover works by paying the insured person a lump sum payment after they have been diagnosed with an illness listed within the insurance policy. Most critical illness cover will pay out for the same types of critical illnesses, but there may be some differences between policies. There is usually a fixed period – often a week or two - between the medical diagnosis and the money being paid out.

If you pass away from an illness, such as dying from a heart attack, then the policy does not usually pay. This type of situation would be covered with life insurance.

Difference between critical and terminal illness

Critical illness and terminal illness are both terms used to describe serious health conditions. However, critical illnesses are not guaranteed to be fatal. For example, you could have a heart attack and go on to recover and return to your normal life. On the other hand, a terminal illness is a medical diagnosis where the illness is likely to be the cause of death or lead to a cause of death within a specific period of time.


Which critical illnesses are covered?

The most common types of critical illnesses that have serious and long-term effects are likely to be covered, but you should always check the terms and conditions of available policies. The most common critical illnesses covered include strokes, heart attacks, various types of cancer and some diseases, such as Parkinson’s disease. Losing limbs through an accident is also usually covered.

Can I choose my level of critical illness cover?

Some policy providers will allow clients to choose from different levels of cover. This will enable individuals to find cover for certain illnesses they have reason to believe they are more prone to. Naturally, the wider cover you take out the higher the cost is likely to be.

How much will my policy pay out if I suffer from a critical illness?

As you can opt for varying levels of cover within critical illness insurance, these policies can pay out significantly different amounts. You may receive a few thousand pounds, whereas someone else suffering from a different type of illness could receive £100,000+. It all depends on your cover and details surrounding the critical illness suffered.

Whether you’re fit and healthy or have previous medical conditions, our team will help you assess suitable critical illness cover and complete your application.

Reach out to one of our Moneysprite advisers to discuss your critical illness cover options. We have advisers from Bournemouth to Norwich and back across to Eastbourne, London and the South East, and help clients throughout the UK. Our friendly and patient team are here to assist you.

Request a callback from one of our advisers

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