Critical Illness


Some very important questions to consider ….

  • If I had a heart attack, stroke or cancer how would this affect my lifestyle, my family emotionally and financially?

  • Could I pay my household bills until I went back to work or would I need a lump sum to ease my finances until I was better?

  • Can I wait for NHS treatment or would I like the choice to be treated sooner to help make a quicker recovery and get back to work sooner?

If you are concerned about any of your answers to any of these questions and wish to plan for life uncertainties, you need to consult our experts here at ENCORE FINANCIAL SOLUTIONS expert who can give you Independent advice and access to the UK’s leading Insurance companies.

Many companies now offer additional emotional and practical support to people who suffer a Critical Illness over and above the financial lump sum you are paying for.  This can include practical support from a non NHS registered nurse, Physiotherapy, Dietician and many more services to help you get back on your feet as soon as possible.

We specialise in this field and can give advice over the phone, in your home, at your place of work or via remote consultation via the Internet, whichever is easier for you.

What is critical illness & what will be covered?

Critical illness insurance pays out a lump sum if you are diagnosed with a serious illness such as the big 3 -  cancer, stroke or heart attack.

These are a selection of the main conditions covered by a Critical Illness Plan and indeed the illnesses in which most people claim for, however, there are many other conditions covered depending on the assurance companies conditions covered.

It is also important to understand the depth of the cover offered, for example, Cancer is included in most plans although it is usually excluding less advanced forms of cancer, therefore,  it is important to speak to an adviser who can explain the differences to you.

Critical illness cover can be bought with life insurance or on its own and can be used to pay off large debts like a mortgage, credit cards, loans or indeed to provide a sum of money to ensure you and your family maintain your standard of living and pay your bills when you are ill.

What’s the difference between critical illness cover and life insurance?

Critical illness cover pays out a tax-free lump sum if you are diagnosed with one of a list of life threatening illnesses. Critical illness policies typically cover heart attacks, multiple sclerosis, heart bypass surgery, cancer, kidney failure, stroke and major transplant surgery. Critical illness insurance policies normally last for a set period or until retirement. Life insurance pays out a lump sum only if you die.  With advances in medical science and better diagnosis, more people are surviving critical illnesses.

How does critical illness cover work?

Critical illness insurance policies pay out a lump sum if you are diagnosed with a life threatening critical illness such as cancer or kidney failure. You should read the policy document to see exactly what illnesses it covers as less serious illnesses may not be covered such as less advanced cases of cancer.

Guaranteed Premiums

Although the initial premium will be more expensive, choose a critical illness policy that has guaranteed premiums, which means the premiums will remain the same for the length of the policy.

Critical illness cover with reviewable premiums usually means less expensive premiums initially, however, premiums can rise subject to the assurance company 5 yearly review based on claims experience.

Critical illness insurance policies typically pay out one lump sum, however, can pay a monthly amount if arranged as a Family Income plan.  To replace an amount of your salary, please also see Income Protection which can cover you if you are off work after an agreed time due to accident or illness.

Critical Illness v Income Protection

Critical illness cover is very important cover to have as it pays out a lump sum if you are diagnosed with one of a list of life threatening medical conditions.

It won’t pay out if you are unable to work because of many illnesses, like a bad back or stress and an income protection policy might be a better option for you. It is very important to speak to an adviser who can offer you advice on what’s best for your circumstances.

How to buy critical illness cover

It’s essential that you disclose your full medical history as failure to do this could leave you without cover, limited cover or no payout in the event of a claim. You need to work out how much money you would need to live on if you were diagnosed with a critical illness and our Client Website can help you do this when you input your income, outgoings, debts & assets. It’s so important that you check what insurance you already have in place and decide if critical illness insurance is right for you. As with all insurance read the key facts document to make sure you understand exactly what you are covered for.

Get the cover you need by filling in our enquiry form, or call us on 0844 272 3701.

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