Critical Illness Cover
Financial Support When Life Takes an Unexpected Turn
Critical Illness Cover is designed to provide a tax-free lump sum if you’re diagnosed with a specified serious illness covered by your policy, helping you focus on your recovery without the added financial pressure.
The payout can be used however you choose, whether it’s helping to pay your mortgage, cover household bills, fund medical treatment, replace lost income, or make adjustments to your home or lifestyle.
Critical Illness Cover That Supports You When You Need It Most
When you take out a Critical Illness Cover policy, you choose the amount of cover and the length of the policy term. If you are diagnosed with a serious illness covered by your policy and your claim meets the insurer’s terms and conditions, you may receive a tax free lump sum payment that can be used for any purpose, helping you focus on your recovery and your family’s wellbeing.
Critical Illness Cover vs Income Protection
Both types of insurance can help protect you financially, but they provide support in different ways. Critical Illness Cover offers a one off lump sum following a qualifying diagnosis, while Income Protection provides a regular income if illness or injury prevents you from working. Depending on your circumstances, having both may provide more comprehensive financial protection.
Key Benefits of Critical Illness Cover
Critical Illness Cover can provide valuable financial support following a qualifying diagnosis, helping you and your family manage financial commitments and focus on treatment and recovery.
*Tax treatment depends on individual circumstances and may change in the future.
Receive a tax free lump sum following a successful claim, subject to the policy terms and conditions.*
Commitments Use the payout to help manage mortgage repayments, household expenses, and other ongoing financial commitments.
Gain financial support during treatment and recovery, helping reduce the financial pressure of a serious illness.
Use the lump sum to help replace lost income or make lifestyle adjustments that may be needed following your diagnosis.
Enjoy greater reassurance knowing you and your family have financial support in place during a challenging time.
Who Can Apply for Critical Illness Cover?
Eligibility for Critical Illness Cover varies between insurers. When assessing your application, insurers may consider several factors to determine whether cover can be offered and the premium you may pay.
- Your Age
- Your Medical History
- Your Smoking Status
- Your Lifestyle
- Your Family Medical History
Acceptance and premiums are subject to the insurer’s underwriting criteria and individual assessment.
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FAQ’s:
Critical Illness Cover is an insurance policy that pays a tax-free lump sum if you’re diagnosed with a specified serious illness covered by your policy and your claim meets the insurer’s terms and conditions.
You choose the amount of cover and the policy term. If you’re diagnosed with a covered critical illness during the policy term, the insurer pays a one-off lump sum following a successful claim.
Cover varies between insurers, but many policies include conditions such as certain types of cancer, heart attack, stroke, multiple sclerosis, major organ transplant, and other specified serious illnesses.
Each policy has its own terms, conditions, and exclusions. Not every illness or medical condition is covered, and claims must meet the insurer’s definitions.
No. Life Insurance pays a benefit if you die during the policy term, while Critical Illness Cover pays if you’re diagnosed with a specified serious illness covered by your policy.
Critical Illness Cover provides a one-off lump sum, while Income Protection pays a regular monthly income if illness or injury prevents you from working.
Critical Illness Cover may be suitable for homeowners, parents, first-time buyers, self-employed professionals, contractors, and anyone with significant financial commitments.
Yes. Many people choose to combine both types of protection to provide broader financial security for themselves and their families.
Yes. These products provide different types of financial protection and are often arranged together.
The amount of cover depends on your mortgage, outstanding debts, household expenses, savings, and the level of financial protection you want.
Yes. Critical Illness Cover is available to employed and self-employed individuals, subject to the insurer’s eligibility criteria.
Premiums are influenced by your age, health, smoking status, lifestyle, occupation, the amount of cover selected, and the policy term.
Yes. Smokers can usually obtain cover, although premiums may be higher than for non-smokers.
This depends on the policy. Some policies may allow multiple claims for different specified conditions, while others provide a single benefit payment.
Yes. You can usually cancel your policy at any time, although your cover will end once cancelled.
Many people consider Critical Illness Cover an important part of their financial protection, particularly if they have a mortgage, dependants, or limited savings.
An adviser will discuss your circumstances, recommend suitable cover, complete the application, and guide you through the insurer’s underwriting process.
At Ample Mortgages, we compare protection solutions from a range of insurers to help you find suitable Critical Illness Cover based on your personal circumstances, financial commitments, and long-term goals.