Critical Illness Cover

For many people the risk of becoming seriously ill is higher than the risk of death, therefore it is worth to protect oneself in case such a thing happens, especially that the majority of insurance providers take into account conditions such as a heart attack, stroke, cancer, multiple sclerosis or kidney failure which unfortunately have been occurring even among young people.
Critical illness insurance is a policy that protects you and your loved ones in the event of a serious illness and helps with paying bills such as mortgage repayments, as well as medical treatment and healthcare costs when you become seriously ill.

Don’t wait – ensure peace of mind for yourself and your loved ones!

Insurance quote

Sample Quote:

Sum Assured£50,000
Monthly Premium£14.12
Guaranteed Insurance Term25 years
Insurance ProviderZurich

* This sample quote was generated on 12/04/2024 for a 30-year-old non-smoking male. Occupation: warehouse worker. Guaranteed premiums. The final premium may vary based on individual circumstances.

Get insured in 3 simple steps:

Free, no-obligation quote

Tell us about your needs and requirements, and we'll present the available options.

Customised offer

After our initial conversation, we'll determine the solutions that are most suitable for you. You'll receive an offer via email, usually within 1 day.

Formalities and application

Once the insurance recommendation is finalised, we'll handle all the formalities related to the application and medical questionnaire. Upon approval by the insurer, your policy will be activated immediately.

What sets us apart?

Security

Prestige Financial Advisers Ltd is an appointed representative of Quilter Mortgage Planning Limited, which is authorised and regulated by the Financial Conduct Authority. Additionally, the majority of the deals we recommend are covered by the Financial Services Compensation Scheme (FSCS).

Experience

With over a decade in the UK market and a track record of thousands of satisfied clients.

Knowledge

All our advisors hold top-notch British qualifications from either The London Institute of Banking & Finance or the Chartered Insurance Institute.

Language

We communicate in plain, understandable language, avoiding unnecessary jargon. Moreover, we are also fluent in Polish.

Choice

We exclusively offer policies from well-respected and trusted insurance firms across the UK.

Accessibility

We cater to clients from all corners of the UK, offering consultations online or over the phone. Each client is assigned a dedicated advisor who handles everything from arranging offers to managing policies.

No Fees

You won't encounter any hidden charges with us. Our remuneration comes from the insurance companies where your policies are set up.

FAQ

What is critical illness?

The term ‘critical illness’ refers to a serious condition that, in most cases, does not result in death but often leads to temporary or permanent inability to work, as well as may require significant financial resources for treatment, rehabilitation, or adjustment to new conditions. If you have a critical illness plan, in the event of becoming seriously ill, you can make a claim to receive a payout from the policy after being diagnosed with a condition that is included on the list of accepted conditions by your insurance company.

Which conditions are covered by insurers?

According to data from most insurance companies in the UK, the most common reasons for filing a claim for Critical Illness insurance are: cancer, heart attack, and stroke. Typically, insurers cover between 40-60 different conditions. There are also packages that cover over 80 diseases and conditions (upgraded/extended versions).

An example list of conditions accepted by most insurance companies in the UK:

  • Alzheimer’s disease before the age of 65 – resulting in permanent symptoms
  • Aorta graft surgery – for disease and trauma
  • Aplastic anaemia – with permanent bone marrow failure
  • Bacterial meningitis – resulting in permanent symptoms
  • Benign brain tumour – resulting in permanent symptoms or specified treatment
  • Blindness – permanent and irreversible
  • Cancer – excluding less advanced cases
  • Cardiac arrest – with insertion of a defibrillator
  • Cardiomyopathy – of specified severity
  • Coma – with associated permanent symptoms
  • Coronary artery bypass graft
  • Creutzfeldt-Jakob disease
  • Deafness – permanent and irreversible
  • Dementia including Alzheimer’s disease – resulting in permanent symptoms
  • Encephalitis – resulting in permanent symptoms
  • Heart attack – of specified severity
  • Heart surgery – with thoracotomy
  • Heart-valve replacement or repair
  • HIV – caught from a blood transfusion, a physical assault or at work
  • Interstitial lung disease
  • Kidney failure – requiring permanent dialysis
  • Less advanced cancer of the breast – with surgical removal (partial payment)
  • Less advanced cancer of the prostate – of specified severity and treatment (partial payment)
  • Liver failure – end stage
  • Loss of hand or foot – permanent physical severance
  • Loss of speech – total permanent and irreversible
  • Major organ transplant – from another donor
  • Motor neurone disease and specified diseases of the motor neurones – resulting in permanent symptoms
  • Multiple sclerosis
  • Paralysis of limb – total and irreversible
  • Parkinson plus syndromes – resulting in permanent symptoms
  • Parkinson’s disease – resulting in permanent symptoms
  • Pneumonectomy – for disease or trauma
  • Primary pulmonary arterial hypertension – resulting in permanent symptoms
  • Pulmonary artery replacement – with surgery
  • Removal of an eyeball as a result of injury or disease – permanent physical severance
  • Respiratory failure – of specified severity
  • Spinal stroke
  • Stroke – resulting in specified symptoms
  • Systemic lupus erythematosus – of specified severity
  • Terminal illness – where death is expected within 12 months
  • Third-degree burns – covering 20% of the body’s surface area or 20% of the face’s surface area
  • Traumatic brain injury – resulting in permanent symptoms

The above list is only an example of a list of conditions and illnesses that may be covered by Critical Illness Cover in the UK. The final scope of conditions as well as definitions may differ depending on the provider and policy upgrades chosen.

When selecting critical illness insurance in the UK or any health insurance, it is worth seeking advice from an experienced advisor in this field who will tailor critical illness plan to your needs to provide you and your family with cover that provides the most suitable financial support and security for the future.

Where and when does critical illness insurance work?

Critical illness insurance protects you 24 hours a day, wherever you are in the world (excluding countries with active war zones).

In the event of a serious illness diagnosis while abroad, the insurance company may require certified translation of medical data.

The policy can take effect immediately upon acceptance of your application by the insurer. Most critical illness policies in the UK have no grace period. Practically the entire application process is now electronic, so the waiting period for a decision from the insurance company is very short, allowing you to provide financial protection for your loved ones within a few days.

Sometimes the waiting period may be longer, e.g., if the insurer requires additional medical reports from your doctor.

How much cover is best to take out?

There is no ‘golden rule’ as to what amount will be appropriate. It is worth considering this individually in terms of your own situation and circumstances. Different payouts may be suitable for a single person without children, and different for the main family breadwinner with three children and a mortgage.

If you can accurately determine how much money you would need in the event of, for example, a cancer diagnosis, it is good to secure sum assured for that amount.

Usually, t’s worth considering factors such as: how much do you earn? How much do you spend? Do you have financially dependent persons and how will a serious diagnosis affect their situation? The amount of loans and debts you have?

Our clients most often choose the insurance option at a level between £20,000 and £50,000.

As a minimum, it is reasonable for compensation to be at least 1-3 times your average annual net income, so that such an amount can provide a greater focus on treatment and therapy for a certain period in the event of a serious illness, rather than worrying about your finances.

Before choosing an insurer and the type of critical illness policy, it is worth analysing various insurance offers in terms of the scope of conditions covered, the amount of payouts, and the cost of insurance.

Are there any restrictions on what the payout money can be used for?

There are no restrictions on how to spend the money. Typically, individuals who unfortunately have to use such insurance allocate funds for private treatment, therapies, medical equipment, covering additional living costs, adapting their environment to new conditions (e.g., home or vehicle modernisation), etc. However, there are no restrictions on spending the money on a new gadget or a foreign trip.

What determines the cost of critical illness insurance?

The cost of critical illness insurance depends on several factors. These primarily include your age, health condition, whether you smoke or not, and your occupation. Additionally, the sum assured you choose will also be a significant factor – the higher the payout, the higher the cost of critical illness insurance in the UK. The insurance term is another factor affecting the price – the longer the insurance guarantee period, the higher the price.

The scope of the policy and cover varies depending on the choices of the insurance company and the package, so this will also be a key factor affecting the price.

Remember that critical illness insurance in the UK can often be extended or linked to other insurances, gaining potential discounts. Also, note that it is possible to lower the insurance sum and, consequently, the monthly premium.

Are children also covered?

Serious illness in children is a great tragedy for any parent. This often involves the need to take additional time off work or completely stop working for a certain period. Most insurance companies in the UK offer the option to include children in a parent’s policy. Some companies offer this for free as part of the package, while others require an additional, small fee for it. Anyone with minor children should consider the option of including them in their policy. Typically, they will be covered by their parents’ insurance for 50% of the insured amount or up to a predetermined amount. Depending on the insurance company and the type of package, children might be protected by their parents’ policy until they are 18-22 years old.

When does Critical Illness insurance not work?

Primarily, critical illness insurance may not work if the condition or illness diagnosed in you is not included in the insurer’s acceptable list. For example, if you have an accident and suffer from skin burns, most insurance companies will have specific provisions regarding the percentage of skin or facial area that must be burned.

Additionally, the insurance company may apply certain exclusions before starting your policy. For example, if your mother and sister had breast cancer, the insurance company may not include compensation in the event of a diagnosis of this cancer in you.

It is also worth mentioning that the procedure itself, during which you take out critical illness insurance in the UK, is important, and here you must provide all required information regarding your health status and medical history. If you omit or conceal something, the insurer will have grounds to refuse a claim in the future.

Fortunately, this is only a small percentage, and insurance companies in the UK have great payout results – on average, they pay out about 91%-92% of critical illness claims. (1)

(1) https://www.abi.org.uk/news/news-articles/2023/5/protection-insurers-pay-out-6.85-billion-to-support-individuals-and-families/

What is the difference between Critical Illness and Terminal Illness?

At first glance, these terms may seem very similar, but in reality, they refer to two very different situations. Critical Illness – is a serious illness, a condition that can significantly affect a person’s life and functioning. It is not synonymous with death. For example, a person after a stroke or heart attack (i.e., a type of critical illness) may enjoy life for several more years. Especially with advanced medical technology or much earlier diagnoses of certain diseases, the prognosis for cure and survival might be high. Terminal Illness, on the other hand, refers to terminal, ‘fatal’ diseases – those where a doctor has determined that there is no possibility of cure and the patient will not survive usually more than 12 months.

The difference is colossal, and there is no doubt that the probability of a critical illness occurring is much higher than that of a terminal illness.

Is critical illness cover mandatory in the UK - for employees and employers?

Every employer in the UK is required to pay basic health/social insurance contributions for the employee (National Insurance Contributions). Unfortunately, this provides only a minimal level of potential support for individuals who become seriously ill, as it only entitles them to receive basic sickness benefits (SSP Statutory Sick Pay), which currently amount to only £116.75 per week and are paid for a maximum of up to 6 months. Such an amount and period for which the benefit is paid are usually entirely insufficient for individuals with serious and long-term health problems. Fro example, in England, this differs from Poland, as Statutory Sick Pay benefit is the same for all employees, whereas in Poland, sickness benefits are usually dependent on income.

The employer is not mandated to provide any additional insurance. Furthermore, the scope of group employee policies in the UK is very limited, and not all companies offer the option of such insurance.

How can you purchase critical illness cover in the UK?

An effective way to purchase critical illness insurance is through a trusted advisor or broker who has access to a wide range of insurance companies and policies. Also, make sure that the advice from the company you are using is regulated and supervised by the FCA – the regulatory body overseeing the financial services market in the UK.

Critical illness insurance in the UK can also be purchased directly from an insurance company – this is recommended for individuals who understand all the issues related to insurance terms, do not need advice, and will not have difficulty completing the application and medical questionnaire.

Due to the complexity of insurance, additional options, and significant differences in offers between insurance companies, it is reasonable to choose option 1 and rely on the advice and analysis of an experienced advisor who deals with this on a daily basis.

What are other popular insurances in the UK?

Insurance protection is a service known worldwide for many centuries. It is also very popular and often chosen in the UK by both individuals and businesses. 5 other popular additional types of policies in the UK are: life insurance, income protection, home insurance, private medical insurance, business insurance. All these products are offered through Prestige Financial Advisers.

Is business insurance mandatory in the UK for businesses?

English law imposes on business owners the obligation to insure their companies primarily in the scope of employer liability (Employers Liability) if they employ any employees or subcontractors. This insurance is for individuals running a business and employing workers in the UK. It protects the employer in the event of an employee accident and provides compensation for the employee in case of injury while performing their work.

Can Polish insurance in the UK be purchased off the shelf?

Living in Poland, you may have been covered by life insurance, for example, in the form of a group policy at your workplace. However, when moving to work abroad, you should take care of this form of family protection yourself. Fortunately, it is much simpler than you might think. Private insurance in the UK can be purchased from agents in their offices, by phone, or online. When applying for a policy, you will have several options to choose from. First and foremost, it will be the sum insured, which will be paid to your loved ones in the event of your death. Remember that cheap life insurance in the UK may have a low guaranteed sum. This amount may not always be enough to meet your family’s needs and repay any obligations. If you are unsure of the amount your new private insurance in the UK should be, you can ask an insurance agent. Based on the information provided by you about family members, obligations, and the standard of your lifestyle, a UK insurance advisor will calculate the optimal amount of the policy, which should meet the needs of your loved ones when you are no longer there.

Polish insurance policies are not typically available in the UK market. Instead, when residing and working in the UK, individuals usually obtain insurance from British-based insurance companies. The sum assured and premiums are denominated in British pounds. Generally, Polish insurance firms lack authorisation from the UK’s financial regulatory body to offer their products to UK residents. While Polish insurance companies do not operate in the UK, there are numerous brokerage and advisory firms that provide services in Polish to assist compatriots in acquiring appropriate insurance in the UK. One such company is Prestige Financial Advisers, which has been operating in the UK market for over a decade, assisting thousands of Polish nationals in securing suitable insurance solutions.

Who is Life Insurance in the UK for?

Do you live and work in the UK? Have you found an interesting and well-paying job there? Have you decided to bring your wife and children there? Do you live in a nice house, have a new car, excellent medical care, and go on vacation every year, or maybe more often? In reality, you don’t need anything else for happiness? However, remember something that you can’t see, but that comes in handy in the toughest moments of life. That something is life insurance in the UK. It is protection for your loved ones in case of your death. Of course, none of us takes this seriously at such an early stage of our lives. Unfortunately, you can never be sure how long you will live and what will happen to you the next day. To provide your family with peace of mind and security, life insurance in the UK is always recommended. Where to buy it and how much does it cost? A Polish broker in the UK will answer these and other questions for you. Life insurance can often be a part of a package with critical illness insurance.

Do you have more questions about critical illness cover? Contact us.

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