|I want a short term accident & sickness policy (Up to 12 months benefit)|
|I want a long term accident and sickness policy that will pay benefits up to age 65|
|I want a policy that pays out a lump sum on diagnosis of a critical illness|
|I don't know what I want please contact me|
Illness insurance policies generally come in two types critical illness plans that pay out a lump sum on diagnosis of a critical illness or accident & sickness plans that pay out a regular monthly income should you be unable to follow your occupation due to ill health.
Critical illness costs increase significantly as you get older, where as short term accident & sickness insurance is not normally age related and therefore the premiums are often the same for an 18 year old as well as a 50 year old. However these policies generally only pay out for up to 12 months should you require a policy that pays out for longer then you may want to consider permanent health insurance. Benefits from this type of policy can pay out to age 65.
A disadvantage of short term illness insurance plans is that they often exclude pre-existing medical conditions. In addition if you are unable to work through a back complaint or mental health issue they will require certification from a specialist consultant that the condition is preventing you from working, a sick note from your GP is not satisfactory proof for these two conditions.
Critical illness insurance has increased in popularity over the last few years however with improvements in medical science and improved survival rates critical illness rates have increased substantially. We believe that before you look at critical illness cover you should ensure that you have an illness insurance policy to provide a replacement income. It is certainly more likely that you will claim on a illness income replacement plan than you would on a critical illness plan. Every year there are more than half a million men who have been unable to work due to ill health for more than six months.