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What is critical illness insurance?

Critical illness cover is a type of insurance policy that pays out a lump sum of money if the policyholder is diagnosed with a critical illness. Critical illnesses typically covered by critical illness policies include heart attack, stroke, cancer, and organ failure.

The pay-out from a critical illness policy is tax-free and you can use it however you want – to cover health-related costs or lost income while you get better.

Our cover can also insure you for life-changing circumstances, like going blind in one eye. Critical illness can be a standalone policy, or it can also be added with certain insurers for an extra cost when you take out a life insurance policy.

Why do you need critical illness insurance?

Anybody can become critically ill at any point in their lives. You cannot know what is around the corner. In the event you cannot work because of your illness, do not be hit by a double whammy of being ill or injured and having no income for you and your family. Be financially prepared.

If you have dependents, it can ease the stress on your family if you were to become critically ill. Whilst you may never need to make a claim, you will have peace of mind that your family and assets would be protected during a difficult period. 

If you do not have savings which could act as a safety net, or do not have an employee benefits package to help you if you were to fall critically ill, we would recommend taking out critical illness cover.

Main benefits of a critical illness insurance policy

  • You will be paid a lump sum payment
  • Some of our insurers cover up to 182 conditions
  • Children can be automatically included
  • Cover from 5 to 50 years up until the age of 75
  • Cover up to £1 million

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Why choose Stanhope for your critical illness insurance?

Stanhope, a subsidiary of Stanhope Cooper, is completely independent and compares price and cover from leading insurers such as Aviva, AIG, Vitality and Royal London. Whether you are a first time buyer or looking to switch policies, our aim is to provide you with the right policy at the right price.

Critical Illness Insurance FAQs

What is the most common critical illness claim?

Most of the claims we have are for cancer. This is followed by heart attacks, strokes, multiple sclerosis, benign brain tumours and Parkinson’s.

What is the difference between life and critical illness cover?

Life insurance pays a lump sum to your loved ones should you die or become terminally ill. Critical illness cover is paid out to you if you are diagnosed with an illness that is covered.

How much cover do I need?

There is no universal rule. Think about your cost of day-to-day living, mortgage payments and any ongoing debts. We can advise you on the best policy to suit your needs.

Why use an insurance broker for critical illness insurance?

Using an insurance broker will save you time

Getting quotes for insurance can be time consuming. When you approach an insurance provider directly, they will require a lot of information from you in order to provide you with a quote. This will include your personal details, information about anyone else you want to be covered by the policy and details of your medical history. If you get quotes from a number of providers, you will have to provide this information to each of them individually. However, when you use a broker  you will only have to provide this information once. We will then scour the market for you using the details you have provided to compare insurance costs and the cover available.

We can save you money on your critical illness insurance

As with other types of insurance, a broker can help you source the best price for the cover that you need. We will obtain a number of quotes from providers for the level of cover that you’re looking for. By comparing the costs we can help you to save money on your monthly premiums by finding the best value cover. You will not get a better price for your critical illness insurance policy by approaching a provider directly as often there is no price differential between the price we, a broker will quote and the price an insurer will quote. Often, brokers can obtain preferential rates, meaning it can actually be cheaper to use us rather than going direct. As the service we provide is free to you our customer, there’s really no reason not to use us.

Independent and unbiased advice

Do you know exactly what type of life policy is the most suitable for you, your family, or your business? If not, we can help. As an experienced broker we will discuss the various types of cover with you in order to find out exactly what type of cover is appropriate. Using us means you benefit from years of experience and industry knowledge. If you’re looking for advice on the best critical illness insurance policy, we can help you. Simply complete our easy online form and we’ll be in touch to discuss your needs. And, we’ll help you to compare the insurance options available so you get the right cover at the right price.