Get Your Critical Illness Insurance

What is  the meaning of Critical Illness Insurance or what we called Critical Illness Cover is?

Critical Illness Cover allows you the opportunity to protect yourself against conditions such as heart attacks, strokes and advanced cancers. Known as “serious illnesses, these conditions can have a dramatic effect on your life that may mean that you can not work and therefore can not continue making mortgage payments or a liability. It can mean that you need specialized medical care, for this may be a long wait on a waiting list NHS. The cover itself will pay a lump sum if diagnosed with a specific critical illnesses on the insurance companies list of illnesses covered.

Why would I need Critical illness insurance?

• Critical Illness Insurance is something that should be considered by everyone, but especially if you have a mortgage or a family is something you should definitely consider.

• According to statistics published by BUPA, 1 in 4 people suffer from some form of illness among their birthdays 30 and 60 (Source: BUPA 2006). For many people who suffer from a critical illness can cause more physical harm to themselves. The effects can spread in all areas of their lives and at least not in their financial situation. Most people need at least some time off work to recover from illness and in some cases may not be able to return to work at all.
• How long can continue to pay your mortgage repayments if they could not work? According to a recent survey, only half of the 29 million workers in the United Kingdom could survive the recommended four months of net financial security if they were unable to work (Source: FT.com January 2009). Even for those who have the financial safety net once they are running at times be difficult.

So how does Critical Illness Insurance help with this problem? Its critical illness coverage to pay a lump sum if diagnosed with a condition specified that lets you pay your mortgage or give you a pot to keep making payments while you are sick. At the same time the boat can also be used for private specialist medical treatment that will help you regain full health as soon as possible.

What conditions are covered in my policy?

The conditions referred to in the policy of the critical illnesses vary according to the insurance company. Each insurance company  is required to meet certain conditions known as the ABI (Association of British Insurers) conditions, however, most companies opt to cover additional diseases. Full details of the conditions covered by each company can be found in the main features of the policy document, but a general list below:

ABI Conditions (Covered by all companies)

* Alzhemiers

* Aorta Graft Surgery

* Benign Brain Tumour

* Blindness

* Advanced Cancers

* Coma

* Coronary Artery Bypass Grafts

* Deafness

* Heart Attack

* Heart Valve Replacement

* Kidney Failure

* Loss of Hands or Feet

* Loss of Speech

* Major Organ Transplant

* Motor Neurone Disease

* Multiple Sclerosis

* Paralysis of Limbs

* Parkinsons

* Stroke

* Terminal Illness

* Third Degree Burns

* Traumatic Head Injury

What are the various options for my Critical Illness Cover?

Like Life Insurance, your Critical Illness Cover is designed to be flexible enough to suit your circumstances and needs. With this in mind there are a variety of options when you take your cover:

* Critical Illness Cover / Critical Illness Insurance

General terms used to describe the insurance policy as a product.

* Decreasing Critical Illness Cover

Critical Illness Insurance designed to decrease inline with your mortgage as the years go by. This type of cover is only suitable for Capital and Repayment Mortgages and should never be taken with Interest Only or Part Interest/Part Repayment mortgages.

* Level Critical Illness Cover

The opposite of Decreasing cover, this Level cover means that the amount of cover you select at the beginning of the term will be exactly what is paid out to you, if you need to make a claim. This is suitable for people with Interest Only (or part and part) mortgages or those simply wishing to receive a fixed amount if the worst happens.

* Increasing Critical Illness Cover

Increasing Critical Illness Insurance allows you to protect your policy against the effects of inflation. Each year the insurance company will offer to increase your cover, without any new medical information, to offset the effects of inflation over the previous year. Using this method you can be sure that your policy will retain its real value.

* Index Linked Critical Illness Cover

Another name for Increasing Critical Illness Cover.

Getting Critical Illness Insurance is a fairly straightforward process. Start by getting your free, no obligation quotations and then choose to either apply direct online for your Critical Ilness Cover.