If you’re diagnosed with a critical illness not listed in our policy
You’re only covered for the conditions listed.
Level cover
With level cover, you choose the cover amount and how long you want the cover to run for. The amount of cover and the amount you pay each month stays the same until your policy ends.
Level cover could be a good option if you're looking to help maintain a loved ones' living standards, and the lump sum can help to cover things like:
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Your salary
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Any additional health and living costs
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Rent payments
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Continue to make mortgage payments
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Children’s school fees or other childcare costs
Decreasing cover
This could be a great option to help pay off a mortgage, debt or other loans if you're diagnosed with one of the defined illnesses while the policy’s active.
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Just like level cover, it has an expiry date, and your monthly payments are set in stone unless you change your policy
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In general, decreasing cover is lighter on your wallet than level cover as it's only there to pay off loans and debts you’re chipping away at. The payout amount won't need to be as high if you claim as you'll owe less money over time.
Should I have the same level of cover for my life insurance and critical illness?
Not necessarily. They’re separate policies, and you don’t have to choose the same level of cover for both.
Everyone's different, so it’s up to you to decide which policy, or combination of policies, is right for you. You can discuss your options with us.
If you already have a policy, please review the terms and conditions. We can also take a look at your existing cover and advise you on any gaps or additional options you may want to consider.
What is Critical Illness Cover?
Critical illness cover is designed to pay out a lump sum if you are diagnosed with a critical illness covered by the policy during the policy term. It doesn’t pay out unless you survive for a specified period after meeting the policy definition. This tends to be between 10 and 28 days dependent on the product. Whilst some critical illness definitions will pay out on diagnosis of a condition only, others will require the condition to have progressed to a set severity or named treatments to be had to meet the definition.
This is not a savings or investment product and will only pay out when a successful claim is made.
Lump sum payment if you’re diagnosed with a covered serious illness
Critical Illness Plan covers conditions which are listed in policy conditions. Dependent on the definition of the critical illness, insurance provider may pay on diagnosis only, when the condition has progressed to a specified severity or when named treatments or surgeries are performed. To claim, you must meet the definition and survive for a minimum number of days specified by your insurance provider.
Full details of what each definition covers can be found in the policy. After a successful claim, your insurance provider will pay out a lump sum.
How much does it cost?
Your premium is based on several factors, including your personal circumstances, medical history, policy term, and the level of cover you select. Costs can also vary between providers. We’re here to help you find the insurance product that best suits your needs.
If you’re diagnosed with a critical illness outside the policy term
You’re only covered during the policy term.
If you die
Your policy will end and we won’t pay out. This is also the case if you die within amount of days of diagnosis specified by your policy. If you have a joint policy and one person dies, the policy will still cover the other person.
This is not a savings or investment plan
The insurance provider will pay out on a successful claim. As this is not a savings or investment plan, there is no cash-in value at any time. If you stop paying premiums when they're due or if you cancel the policy, your cover will end.