What Is Critical Illness Cover?

It’s not something that any of us want to think about, but critical illness cover is a type of insurance that provides a lump sum payout should you be diagnosed with a particular illness.

It’s designed to cover your living cost and/or the cost of treatment, but you are free to spend the money as you see fit. It’s also tax-free, so you won’t need to declare it to HMRC.

As with any type of insurance, not all policies are created equal. Some offer far more coverage than others, with some providing pay-outs for over 50 conditions, whereas others are more specialised with what they cover. From cancer to strokes, there are plenty of conditions you can protect your future finances against.

Critical illness insurance is typically recommended for people who have financial responsibilities, such as a mortgage to pay, bills, and a family to look after. It offers peace of mind should you or your partner be diagnosed with a condition that affects your ability to work or live as normal.

The insurance premium will be decided based on a range of factors, including your current health, lifestyle factors and whether close family members have been diagnosed with particular illnesses. An insurance broker can help you shop around for the right coverage, factoring in the best value quote. They will use trusted providers who don’t make the claims process too strenuous.

It’s not necessarily a pleasant task, but acquiring critical illness cover can be the right thing to do and give you and your family peace of mind. Our highly-trained and personable insurance brokers will do everything they can to explain the process simply and provide a sensitive service.

Contact Agentis today to speak to one of our insurance brokers.