Critical Illness Cover

You probably have life insurance for when you die – but what insurance do you have in case you live?

It is widely known that with modern advances in medical expertise, the chance of surviving a critical illness, such as cancer, has increased. In October 2011 Macmillan reported that 7 out of 10 cancer patients suffer a loss of income or high costs as a result of their diagnosis of cancer. In June 2012 Cardiac Matters reported that out of 146,000 people who suffer a heart attack each year in the UK, 52,000 survive. These are just two simple reasons why anyone should view Critical Illness as a must have type of cover.

Get your critical illness cover quote here. At Harvey Bowes, we don’t run a ‘comparison website’ which means that we don’t try to sell your details to multiple insurance companies who will simply provide a quote for the cover that they offer. With us, you are making an inquiry directly with a qualified advisor who can discuss your requirements and identify what cover is going to be of most value to you. We don’t run an off-shore call centre, nor do our price comparisons for providers look cheap at first sight, but will refuse you cover if you are not of a perfect health, perfect weight, totally sober and never had any illnesses at all!

When you buy insurance cover such as critical illness, it is not done on a whim. You want to protect yourself, your family and the things you own. It is therefore really important to ensure that should the unthinkable happen you know you are covered and you know your insurance provider will pay out.

Harvey Bowes does not charge a fee for reviewing insurances. So why would you risk making the wrong decisions when a professional can guide and advice?

For an informal chat, no matter how tentative it might be, please call us on 02921754150 and we’ll answer your questions. Or contact us with the inquiry form on this page.

 How does Critical Illness Cover work?

Critical Illness Cover plans are designed to pay a tax-free lump sum or monthly benefit depending on the plan chosen in the event that a policyholder is diagnosed with one of many different critical illnesses covered by the provider, as defined in the plan. Clearly, this only applies during the period of cover and provided the policy is kept in force by paying the monthly premiums on time.

Critical illness cover is designed to help policyholder and their family manage financially during this difficult time, the money could be used to help towards:

  • paying off the mortgage or monthly repayments
  • paying the household bills
  • covering the cost of private medical or specialist treatment during recovery
  • or to just help maintain some quality of life in their individual or family lifestyles.

 Did you know?

Critical Illness providers have certain terms and conditions they must include, but many additional policy aspects vary from provider to provider. This means that some policies cover more illnesses than others. A qualified advisor can explain the differences and identify what is important to you and your family should you need to make a claim. There is also an independent way to gauge the quality of a policy, which is called Defaqto.

What is Defaqto?

Defaqto is an independent company which gives a star rating to various types of insurance. Much like the star rating for a Hotel, the more stars the better the quality of the policies offered. Interestingly though, some insurance providers provide some of the best rates available as well as having a high Defaqto star rating. Contact us for more details: 02921754150.

 There are many added benefits to Critical Illness Cover

Some Critical Illness insurance providers don’t just hand a cheque out in the event of a valid claim, they provide additional support which can include personal nurse advisors, rehabilitation case managers, helplines and success stories of other clients who have been in a similar situation.

 Some good news!

With advances in medical science, more people than ever survive a critical illness. For example, 82% of breast cancer sufferers will survive at least 5 years after diagnosis* And most homeowners don’t plan to cover the extra debts when they take out life insurance. Many people work hard throughout life to provide for a family and enjoy a nice lifestyle. That’s why it is so important to protect it. Even a small amount of critical illness to act as a contingency plan is better than nothing at all.

 *Source:—for women diagnosed during 2011—2006 and reported March 2010.

The value of critical illness:

On the 1st October 2009 Kara Gammell of the daily telegraph pointed out that many home-owners take some sort of financial protection, however only a few take critical illness. As the article revealed, it is claimed that you are more likely to need critical illness than life cover. But how much more likely? Around 5 times more likely according to the daily telegraph. And we can’t disagree when we look at personal experience and that of our clients.

Critical Illness cover can be seen as prohibitive because of the cost, however, while the complete cover is always recommended, we appreciate your budget may not be able to stretch that far. Any level of cover is better than none. If you cannot afford the monthly payment for enough cover to pay off your mortgage and help with lifestyle costs, then at least some cover might pay for home modifications required, or to pay for drugs not available on the NHS (certain drugs reported to cure cancer are not available on the NHS). Whatever the case, we are not medical experts, but we will help you to put together the right protection at the right budget even if it is not the ideal solution.

 Your home may be repossessed if you do not keep up repayments on your mortgage


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