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What decisions will you have to make before you can get a quotation?
You will have to make four decisions:
- How long you want the policy to be in force (that’s known as the policy’s “term”)
- How much money you want to insure for (that’s known as the policy’s cover)
- Whether you want to insure simply yourself or include your partner - i.e. whether you want a Single or Joint policy
- Whether you want a Guaranteed or Reviewable policy.
Hot Topics
- Why do you need to consider a new Critical Illness policy if you already have one?
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Because older policies were often limited in the illnesses they covered; your own circumstances may have changed; you may now need to increase the sum insured.
- Is there a minimum or maximum amount of Critical Illness cover available?
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When you get an quotation, the insurer providing the quotation has agreed in principle to insure you for the sum you have requested. Therefore, you do not need to worry about this issue.
- What level of critical illness cover could your children get?
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Insurance companies normally impose a maximum limit on any claim under the policy’s provisions for children. Sometimes the limit will be lower of a percentage of your own sum assured (e.g. 25% or 50%) or a set amount (typically £15,000 or £20,000).
- What information do you need to provide to apply for a Critical Illness policy?
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The Application form will ask questions regarding your height, weight, age, sex, current state of health, occupation, hobbies etc.
- Will a claim for critical illness affect any State Benefits?
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No, it should not affect your claim for State Benefits.
Here’s a Tip
Hot Topics
- Why do you need to consider a new Critical Illness policy if you already have one?
- Because older policies were often limited in the illnesses they covered; your own circumstances may have changed; you may now need to increase the sum insured.
- Is there a minimum or maximum amount of Critical Illness cover available?
- When you get an quotation, the insurer providing the quotation has agreed in principle to insure you for the sum you have requested. Therefore, you do not need to worry about this issue.
- What level of critical illness cover could your children get?
- Insurance companies normally impose a maximum limit on any claim under the policy’s provisions for children. Sometimes the limit will be lower of a percentage of your own sum assured (e.g. 25% or 50%) or a set amount (typically £15,000 or £20,000).
- What information do you need to provide to apply for a Critical Illness policy?
- The Application form will ask questions regarding your height, weight, age, sex, current state of health, occupation, hobbies etc.
- Will a claim for critical illness affect any State Benefits?
- No, it should not affect your claim for State Benefits.
You may find that you can get quote for a Life Insurance policy with Critical Illness cover cheaper than just Critical Illness policy alone! That would give you far more protection and cheaper too!
Frequently Asked Questions related to the above topic.
Click below if you wish to read them: -
- How much Critical Illness cover do you need?
- How long should you insure for?
- Can you include my partner on your Critical Illness policy?
- Can You Include Your Children On A Critical Illness Policy?
- Should you have a “Guaranteed” or a “Reviewable” policy?
- What conditions are considered critical?
- Are critical illnesses in pregnancy covered?
- Can you include your partner ?
- Are future children included on a Critical Illness policy?
- What level of Critical Illness cover could your children get
- How much does Critical Illness cover cost?
- What is the difference between Critical Illness cover and Terminal Illness cover?
- What information do you need to provide to apply for a Critical Illness policy?
- Will you need a medical if you apply for a Critical Illness policy?
- Once you’ve got your quote, what’s the next step?
- What could critical illness cover be used for ?
- Can you increase or decrease your critical illness cover at a later date ?
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