Critical Illness Insurance pays a tax free sum if you are diagnosed as having a serious illness which is included on the insurance company’s list of insured critical illnesses.
1 in 5 men and 1 in 6 women suffer a critical illness before their normal retirement age.
To help you judge the extensive scope of the protection afforded by critical illness insuirance, we show below a comprehensivel list of the illnesses normally included by insurance companies. Please be aware that the list does change slightly between companies - so you should always carefully read their list and the other documentation before signing on the dotted line.
Alzheimer’s disease
Aorta graft surgery
Aplastic anemia
Bacterial Meningitis
Benign brain tumour
Blindness
Cancer
Cardiomyopathy
Chronic lung disease
Coma
Coronary artery by-pass surgery
Creutzfeldt-Jakob disease
Deafness
Dementia
Heart attack
Heart valve replacement or repair
HIV or AIDs from an assault, blood transfusion, occupational duties or accident
Keyhole heart surgery
Kidney failure
Loss of independent existence
Loss of limbs
Loss of speech
Major organ transplant
Motor Neurone disease
Multiple Sclerosis
Paralysis/Paraplegia
Parkinson’s disease
Progressive Supranulcear Palsy
Stroke
Third degree burns
Total and Permanent Disability
Cover for children
You should be aware that during the last year, new types of critical illness insurance have been introduced which limit cover solely to specific illnesses such as cancer. The payouts on some of these policies are also restricted depending on the severity of the cancer. You are advised to take independent financial advice before you buy any of those policies. Indeed, you are well advised to take advice with any critical illness policy you buy, as they are far more complicated than life insurance.
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