What is Covered Under Critical Illness Cover?

Critical Illness cover can be very beneficial for you and your family, as it can offer financial support while you deal with your diagnosis, treatment and recovery.

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Critical Illness cover can be very beneficial for you and your family, as it can offer financial support while you deal with your diagnosis, treatment and recovery. It means you can pay for medical treatment or cover household bills and living costs, especially if you’re unable to work.

However, it’s important that you are aware of what illnesses are covered and what the policy definitions are. Each provider can have a different definition, so make sure you are familiar with them before taking out a policy. Here we’ll compare some of the leading providers and what they offer for Critical Illness cover.


AIG

American International Group (AIG) was founded in 1919, and now has operations in more than 80 countries. They provide a range of insurance products and services, and is one of the largest companies specialising in the UK business insurance market.

·  Age of policyholder: 17 up to and including 75

·  Minimum & maximum policy length: 3-50 years

·  Conditions covered: 45 critical illnesses covered, plus 18 optional additional illnesses and 10 child-specific conditions


Legal & General

Legal & General was founded in 1836 and has become the UK’s largest provider of individual life assurance products. They are also one of Europe’s largest insurance groups, helping over 10 million people globally.

·  Age of policyholder: 18 up to and including 64

·  Minimum & maximum policy length: 5-40 years

·  Conditions covered: Standard covers 31 full payment conditions and 2 additional conditions. CIC extra covers 48 full payment conditions and 28 additional payments.

 

Liverpool Victoria

Liverpool Victoria has a history spanning over 175 years, helping customers to access independent, regulated financial advice. LV offers a wide range of products ranging from car and home insurance, to life insurance and pensions.

·  Age of policyholder: 17 up to and including 64

·  Minimum & maximum policy length: 5-50 years

·  Conditions covered: 49 full payment conditions  and 38 additional payment conditions (20 of which are under the same heading marked “less advanced cancers”)

 

Royal London

Royal London is the UK’s largest mutual life and pensions company, with a timeline that goes back to 1861. Winning multiple awards over the years, they offer a range of insurance products.

·  Age of policyholder: 18 up to and including 69

·  Minimum & maximum policy length: 5-50 years

·  Conditions covered: 44 critical illnesses covered, plus 24 additional conditions and 13 child specific conditions with the enhanced children’s cover.

 

Scottish Widows

Scottish Widows was originally founded in 1815 to take care of women and children who lost family in the Napoleonic Wars. More than 200 years on, the insurance provider continues to look after almost 6 million customers across the UK. They deliver a huge product range from pensions, investment products and life insurance.

·  Age of policyholder: 18 up to and including 64

·  Minimum policy length: 5 years

·  Conditions covered: 30 critical illnesses covered, plus 10 additional conditions and 5 child-specific conditions

 


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