What is Critical Illness Insurance?
Critical Illness Insurance or cover, also known as Serious Illness Insurance or Specified Illness Insurance provides a lump sum payment on the diagnosis of one of the listed critical illnesses or serious illnesses.
What are the main claims for critical illness?
The main claims for critical illness are for Cancer, Stroke and Heart attack but as well as these it covers many other illnesses such as Heart surgery, MS, Kidney failure etc. The list of illnesses varies depending on what insurance company the cover is with. This is why it is important to get advice so that you know exactly what is covered and more importantly what is not.
Can I get Critical illness insurance with Life Insurance or Mortgage protection?
Critical Illness Cover can be taken on its own or with Life Insurance/ Term Insurance or Mortgage Protection. It can be done as standalone or accelerated serious illness. A claim on a standalone serious illness policy would not affect the life insurance amount and the life cover would remain in force (assuming premiums continue to be paid). With accelerated serious illness a claim on the serious illness part of the policy would reduce the life cover by the amount paid out.
Do I need critical illness cover?
Critical illness insurance is highly recommended. We recommend at the very least you include Critical Illness cover on your mortgage protection policy, hence if you or your partner suffers from one of the listed serious illnesses your mortgage will be taken care of. The lump sum can be used at your discretion and could be used to clear off some loans, pay a lump sum off your mortgage, help pay for expensive medical bills or used to supplement you income if you are unable to work for an extended period of time.
How do I take out a specified illness policy?
- Call Heritage Insurance Brokers on 01-6911017 to discuss your Life Insurance or Specified Illness needs or to book an appointment.
- Drop us an e-mail at: specifiedillness@heritageinsurancebrokers.ie
- Complete your details on our "critical illness quote/ serious illness insurance quote" page and one of our finacial advisers will contact you to discuss your financial needs and book an appointment at a time that suits you.
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