What is a critical illness insurance policy ?
A critical illness policy pays the policyholder the chosen benefit amount of insurance they have chosen if they suffer a critical illness or they can also add life insurance to the policy so that in the event of a death the benefit will be paid to the family.
The critical illnesses covered are determined by which company you chose.
The critical illnesses that are typically covered include, Stroke, Alzheimer’s disease, Blindness, Liver Failure, Parkinson’s Disease, (normally before 65) Major Organ transplant, Open Heart Surgery, Aorta Graft Surgery, Third Degree Burns (normally 20% of body surface and 50% of the face), Pre-Senile dementia, Cardiomyopathy, Kidney Failure (requiring dialysis), Chronic rheumatoid arthritis, Loss of hands or feet, Benign brain tumour, Paralysis of limbs, Coma, Aplastic anaemia, Respiratory failure, Systemic lupus erythematosus, Multiple sclerosis, Loss of independence, Deafness, Motor neurone disease(normally before age 65) Coronary angioplasty, Bacterial Meningitis, Traumatic head injury, Heart Attack, Benign brain tumour, Coronary artery by-pass grafts, Cancer (excluding less advanced cases) Heart Valve replacement or repair, progressive supra-nuclear palsy (normally resulting in permanent symptoms) HIV infection (normally caught from a blood transfusion, assault or at work in an eligible occupation), Insulin dependent diabetes mellitus (normally type 1 diabetes), Loss of speech. The above illnesses vary from company to company and a full list of what each company covers will be listed in their policy documents or Key Features. Children up to the age of 18 can be covered at no extra charge.
Children are normally covered for all the illnesses you are except for insulin dependent diabetes mellitus. Children are not normally covered for death or terminal illness.
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