Critical Illness Cover

Critical illness cover is a type of insurance that can help protect you and your family financially if you are diagnosed with a certain serious medical condition, or suffer from an accident. It is designed to provide a lump sum payment which can be used to pay for medical treatment and related costs, as well as provide some financial security should you not be able to work due to the illness or injury.

Critical illness cover is available as either an individual policy or often as part of a protection plan alongside a life insurance policy. Depending on the provider you choose, there may be various levels of cover which can include additional features such as children's cover and waiver of premium.

At Echo Finance, we work with the entire market to ensure you receive the best advice and policy available. We are committed to providing our customers with comprehensive critical illness cover at competitive prices. Our knowledgeable advisers will take the time to understand your individual needs and provide tailored protection plans that meet them.

We understand how difficult it can be to make decisions regarding financial protection, especially when it comes to critical illness insurance and other forms of cover. That is why our experienced staff are here for you every step of the way, from recommending a suitable policy to helping you complete all paperwork correctly.

If you have any questions or concerns about critical illness insurance, get in touch with Echo Finance today for unbiased advice and guidance without any obligation. We look forward to helping you find the protection you and your family deserve.

What is critical illness cover?

Critical illness cover is a type of insurance which pays out a lump sum if you are diagnosed with a specified serious medical condition. This money can be used to help pay for any costs you incur related to your treatment, such as additional medical costs, travel expenses or rehabilitation services. It can also provide financial support to help you and your family adjust to the changes in your life caused by a critical illness.

Depending on the policy, it may also provide an income should you become unable to work due to ill health. Critical illness cover is designed so that it pays out before death occurs; however, some policies may offer alternative benefits upon death or disability. With critical illness cover, you can have peace of mind knowing that in the event of a serious illness, you and your family will have some financial support to fall back on.

How does critical illness cover work?

Critical illness cover works by providing you with a lump sum if you are diagnosed with one of the specified serious medical conditions listed in your policy. The lump-sum payment can be used to help you meet any additional costs related to your illness, such as medical bills or lost income. It can also provide financial security for your family if you are unable to work due to an illness. Most critical illness policies will pay out the lump sum regardless of whether or not you have made a claim on your health insurance.

Critical illness cover is different from other forms of life insurance in that it pays out a lump sum if you are diagnosed with a particular medical condition, rather than paying out following death. This means that if you make a successful claim on your critical illness policy and survive, you will receive the payout even though no one has died.

Critical illness policies usually only cover a number of specified conditions such as cancer, heart attack and stroke. The list of medical conditions covered by a particular policy may vary between insurers, so it is important to check what is covered when you are considering taking out a critical illness policy.

The cost of critical illness cover will depend on the level of coverage that you choose and your personal circumstances. Your age, health status and lifestyle all have an impact on the premiums that you will pay for this form of insurance. You should also bear in mind that some policies may have exclusions or limitations on certain types of claims or critical illnesses, so make sure you read the terms and conditions carefully before taking out a policy. It’s also worth shopping around to compare different providers and policies before making a final decision.

What does critical illness insurance cover?

Critical illness cover typically covers a range of serious medical conditions, such as cancer, heart disease and stroke. The specific list of conditions covered by a policy may vary between insurers, so it is important to check the terms and conditions carefully before taking out a policy.

Typical critical illnesses covered may include:

- Cancer (including malignant tumours, leukaemia and lymphoma)

- Heart attack or stroke

- Organ transplantation

- Multiple sclerosis

- Parkinson's disease

- Alzheimer’s disease and other forms of dementia

- Motor neurone diseases such as Lou Gehrig’s disease

- Major organ failure

- Blindness

- Kidney failure

- Loss of limbs.

It is important to remember that not all policies cover the same range of conditions, so make sure you check what is covered before signing up for a policy. It may also be worth considering taking out additional insurance if your policy does not cover certain conditions you are especially concerned about.

What is not covered by critical illness insurance?

Although critical illness cover provides a lump sum if you are diagnosed with one of the specified serious medical conditions listed in your policy, there are some illnesses and treatments that may not be covered. These can include pre-existing medical conditions or illnesses that you have been diagnosed with before taking out your policy. It is important to remember that different policies may cover different medical conditions, so it is worth checking the terms and conditions carefully before signing up for a policy.

In addition, some policies may have a waiting period before they begin to cover you and there may be an overall limit on the amount they will pay out. Again, it’s essential to check the policy documents in detail so that you know exactly what you are signing up for. Finally, if you decide to take out critical illness insurance, it is important to remember that regular reviews of your policy should be undertaken so that it keeps up with any changes in your circumstances. This ensures that you are covered in the event of any unexpected medical diagnosis.

What other forms of insurance may be worth considering?

In addition to critical illness cover, there are a number of other types of insurance that you may want to consider. This could include:

Life insurance

Life insurance provides a lump sum in the event of your death, which can help to protect your family’s financial future.

Income protection insurance

This type of insurance pays out a regular income if you are unable to work due to illness or injury. This can help you to stay financially afloat until you are able to return to work.

Private medical insurance

Private medical insurance covers the cost of private healthcare, which may provide faster access to treatment than is available on the NHS. Depending on the policy, it may also cover some treatments that may not be available on the NHS.

It is important to remember that different policies may offer different levels of coverage and benefits, so it is worth shopping around and getting advice from an independent financial adviser before making a final decision. This will ensure that you get the right level of cover for your needs at the best possible price.

Additionally, it’s essential to read the terms and conditions carefully before signing up. At Echo Finance, we are here to help you find the right insurance policy for your needs. Contact us today for further advice and guidance.

How much does critical illness cover cost?

The cost of your monthly premiums for critical illness insurance will vary depending on a number of factors, including:

- Your age

- Your health and medical history

- The amount of cover you require

- The type of policy you choose

It is also worth bearing in mind that the cost of premiums may increase as you get older and your risk of developing a serious illness increases. However, it’s important to remember that taking out such protection can provide peace of mind for yourself and your family in the long run. At Echo Finance, we are committed to helping you find the best cover at the most competitive price. Contact us today for more information.

Do I need to buy critical illness insurance and a life insurance policy?

It is important to consider your individual circumstances and decide whether life insurance and/or critical illness cover are necessary. Life insurance provides a lump sum if you die, which can help protect your family’s financial future. Critical illness insurance pays out in the event of diagnosed serious medical conditions, such as heart attack or stroke.

You don't necessarily need to take out both life cover and a critical illness policy. However, depending on your situation, it may be possible to combine these types of cover into one policy for added convenience and savings

At Echo Finance, we understand that everyone’s needs are different and will work with you to find the right critical illness cover policy for your individual circumstances. Contact us today for more information or advice.

What to consider when choosing critical illness cover

It is important to remember that critical illness cover should not be seen as a substitute for life insurance, and that it may not cover all medical situations. Before choosing a policy, there are a few key factors to consider

• The level of cover you need
• The type of conditions that your policy will cover
• Your budget and ability to pay premiums
• Whether the provider offers additional benefits such as long-term care support or access to second opinions

At Echo Finance, we have extensive experience in helping our customers find the right critical illness insurance policies for their needs. Contact us today for more information.

Do I need critical illness insurance if I already have health insurance?

Health insurance is designed to cover the cost of medical treatments and procedures, while critical illness cover pays out a lump sum if you are diagnosed with a serious medical condition.

Typically, health insurance does not provide financial protection in the event of a diagnosis for an identified list of critical illnesses covered by the policy. Therefore, you may want to consider taking out additional critical illness cover to ensure that you are adequately protected.

At Echo Finance, we have years of experience helping our customers find the right level of protection at an affordable price. Contact us today for more information or advice.

Speak to an expert

Choosing the right critical illness or life insurance policy is an important decision and it can be difficult to understand all the options available. It’s important to seek professional advice before making a commitment, so you can have peace of mind that your cover will meet your needs.

At Echo Finance, our team of specialists are here to help you find the right critical illness insurance policy for your individual circumstances. Contact us today for more information or assistance. We look forward to helping you get the protection you need.