Compare Critical Illness Cover Quotes

What is Critical Illness Cover?

Everyone should consider taking out a critical illness cover, we all have those moments in life where we sit and ponder about what our future will be like. We think about past but lasting memories, getting older and wiser, and considering the prospect of possibly becoming seriously ill and not being able to physically care for or financially support our family anymore. Taking out critical illness cover, will help provide you with peace of mind in knowing that you and your loved ones will be financially protected, should you unfortunately be diagnosed with a certain illness or disability.

Do you need critical illness cover?

You should consider purchasing critical illness insurance if you become seriously ill or diagnosed with a disability with minimum savings. Critical illness cover helps relieves your family of any financial worries, if you were to be off sick for a long period of time.

Here at Quote Me Less, we compare critical illness cover quotes by using only the UK’s industry-leading insurance providers. We are here to help and guide you through every step of the process to ensure you find a policy that is affordable, reliable and is moulded to suit you and your family’s needs. Our long-term critical illness cover is there to provide you and your loved ones with a one-off, tax-free lump sum of money should you be diagnosed with a disability or a serious illness, and in the event that you should pass away prematurely as a result of this prognosis.

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Compare Critical lllness Cover Quotes

What are the benefits of Critical Illness Cover?

You are eligible to apply for critical illness cover if you are a UK resident aged between 17 – 70years old
Relieves you and your family from the financial pressures that come with suffering with an unexpected medical diagnosis
Depending on the level of cover you choose, payments can start from as little as £5.00 per calendar month
Policies are often flexible and allow the policyholder to choose from a range of conditions to be put into their policy, and the level of cover they receive
You can use the pay-out for the cost of your care, treatments and surgeries
Helps pay for therapy and rehabilitation recovery aids such as hydrotherapy, communication and computer therapy, physiotherapy, exercise or active therapy and nutrition therapy
Your one-off lump sum of money is completely tax-free
If you decide to take out critical illness cover at a young age, you will benefit from lower monthly premiums payments as your cover is payable over a longer period of time
It can be used to pay towards everyday expenses like utility bills and grocery shopping
Can help you keep up-to-date with your monthly rental or mortgage repayments
Critical illness cover includes cover for common illnesses such as;
Most policies pay-out if you become permanently disabled due to a diagnosed illness or through accidental injury
Can be used to replace any lost income due to your diagnosis or for during your ‘recovery period’
Can help you in changing or adapting to a new lifestyle
Your cover amount would not be taken into consideration during an application for any illness or disability benefits

How much does critical illness cover cost?

Like all insurance plans, your monthly premium payments will generally be higher if you pose a ‘risk’ to the insurers. This is because the likelihood of you needing to make an insurance claim is greatly increased.

insurance infographic showing smoker and non smoker prices

For instance, if you are healthy and do not smoke, your monthly premium payments are going to be considerably low in comparison to someone who does smoke. As an example, if you were to take out a critical illness insurance policy with your cover paid over a period of 20years, your monthly premium payments are estimated to be as follows;

Age	Cover	Smoker	Non smoker
20	£100,000	£15	£5
20	£150,000	£25	£10
40	£100,000	£35	£15
40	£150,000	£45	£20
60	£100,000	£60	£25
60	£150,000	£70	£30

The insurance company will take into consideration the following points when assessing your monthly premium payments;

Amount of cover you want to apply for
Current occupation
Your age
Your current weight
Current health condition
Whether you are a smoker, previous smoker or non-smoker
Current lifestyle
Family medical history
Whether you partake in dangerous activities or hobbies
Whether your cover is for more than one person/ life

Facts on Critical Illness Insurance

In May 2020, the Association of British Insurers (ABI) and Group Risk Development (GRiD) released new figures, which show the insurance industry paid out a record of £5.7 billion for protection claims in 2019. These figures compared with the statistics from 2018 show a total of £5.2 billion paid out in protection claims which is an increase in over £470 million a year. This is the highest percentage of claims paid on record at 98.3%.

The data from ABI and GRiD also showed that cancer was the largest, most single reason for an individual critical illness claim and the figures for the critical illness protection market was detailed as follows;

Critical Illness insurance
Number of Claims paid	Percentage of new claims paid	Total Value paid	Average Value of Claims paid
£17,995	91.60%	£1,215,957	£67,573.28

*Figures shown are for new claims, as well as income protection claims

(www.abi.org.uk/news/news-articles/2020/05/record-98.3-of-protection-claims-paid-out-in-2019)

It is essential that you understand all of the terms and conditions laid out in your critical illness cover documents, as not all insurance companies offer the same level of cover within their policies. It is of vital importance that you research and acknowledge the specific types of illnesses and/ or disabilities which are included within your policy. This will ensure you are taking out the right level of cover, for your individual needs.

A small percentage of critical illness insurance claims are not paid out due to the following reasons;

Condition diagnosed and suffered by the claimant is not covered in the contents of the claimants’ critical illness insurance policy document
Claimant failed to disclose – or - deliberately withheld important information to their insurance provider regarding their current lifestyle and or/ medical history at the time of applying for the critical illness cover
The condition diagnosed or suffered with is not as ‘severe’ as stipulated in the claimants policy document
The claimant was diagnosed with a critical illness due to self-injury, attempted suicide, or drug and alcohol abuse
Where the claimant does not present an official doctors report or a specialist consultant’s report, diagnosing the critical illness and/ or disability

To ensure your claim is not rejected, please ensure you disclose any existing illnesses or current lifestyle choices to your insurance provider during the course of your application.

Any critical illness policy that is issued by the insurance provider is solely on the basis of the information given to them at the time of application. They will be unable to process a claim if you have not advised them of any potential medical risks, or you partake in dangerous activities.

What conditions can be included in critical illness cover?

Whilst all critical illness insurance plans guarantee that you will be covered for common illnesses, there are many conditions that you can be covered for within your policy. Your policy documents will include all conditions and illnesses relevant to your cover and they will detail how serious each of the conditions must be to enable you to make a valid claim.

In the unfortunate event that you become seriously ill and/ or diagnosed with a disability, most insurance companies will pay out for the following;

Blindness
Deafness
Loss of speech
Paralysis
Life-threatening types and stages of cancer
Heart attack
Stroke
Kidney failure
Heart valve replacement
Aortic surgery
Coronary artery-bypass surgery
Loss of limbs and/ or independent existence
Aplastic anaemia
Motor neurone disease
Parkinson’s disease
Severe burns
Alzheimer’s
Multiple sclerosis
Benign brain tumour
Bacterial meningitis
Major organ failure; transplant or on waiting list

It’s always best to be safe when it comes to protecting your family financially. We compare critical illness cover quotes to get the best deals, all you need to do is contact us today for a free quote at no obligation.

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Answers to your questions

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If you have any questions or concerns about taking out a Critical illness life insurance policy, please take a look at our FAQ’s, which may be able to help you;