How critical illness cover could make all the difference

When looking for a life insurance policy, it’s easy to be so focused on getting your cover sorted, that you forget all of the ways that the pay-out from your cover could positively impact you and your loved ones, if the worst case scenario happened.

What can you use the money for?

To put it simply, you can use the pay-out from your cover for whatever you want.

When your critical illness cover pays out, you are able to use the pay-out yourself or pass the money onto your loved ones - the choice is yours. It all depends on yours and your loved ones' circumstances at the time illness struck. Either way, no matter if you have savings or a plan in place, the pay-out from your critical illness cover can help you;

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• Pay for travel to and from specialist hospitals that may be further away
• Take your loved ones on the holiday of a lifetime
• Afford the essentials (think the weekly food shop, the bills, new clothes for your little ones)
• Pay for changes to your home, if you have to modify the way you live to adjust to your diagnosis and new lifestyle
• Keep up with your mortgage or rent payments
  
  

What is children’s critical illness cover?

Most of the UK’s leading life insurance providers now offer children’s critical illness cover included within your critical illness cover, at no extra cost. Children’s critical illness cover cannot be chosen as a stand alone policy, it is only available as an add on to your own critical illness cover.

One of the biggest advantages of having children’s critical illness cover included with your policy is that if you sadly were to make a claim on the children’s element cover, your policy would still remain intact. So it’s kind of like a two for the price of one but with your critical illness policy.

What is covered by children’s critical illness cover?

The conditions covered by a children’s critical illness policy will always vary depending on which provider you choose. Some examples of the conditions that could be covered by this policy add-on are:

• Type 1 diabetes
• Down’s syndrome
• Cystic fibrosis
• Cerebral palsy
  
  

However, when you speak with one of our protection specialists, they will always answer any questions you may have, when you take out your policy.

How do you claim on your children’s critical illness cover?

Claiming on the children’s element of your critical illness cover would work the same as if you were claiming on your own cover. If your child was to sadly be diagnosed with a critical illness as specified within your policy conditions, then you can give us a call. We would be able to advise you on your next steps or you can go straight to your provider where they can help you.

Once you have gone through the claims process and if your claim was successful, then you will receive the money straight to your bank account. The money is then yours to do whatever you want with and your own critical illness policy will remain intact.

What is covered by a critical illness policy?

Similarly to the children’s version of the cover, critical illness cover can financially protect you if you were to be diagnosed with a critical illness, as defined in your policy conditions. Every provider is different but the main illnesses that you are more likely to see covered under a standard critical illness policy are:

• Heart attack
• Cancer
• Multiple sclerosis
• Alzheimer’s
• Loss of limbs
• Loss of sight
• Organ failure
• Parkinson’s disease
• Stroke
  
  

As always, your cover will always be tailored to your personal circumstances and your unique medical history which is something we will always inform you of when you take out your cover.

Just one of many

Life insurance in general can be a total game changer for families when times get tough. But critical illness cover in particular has made a monumental difference for so many families who we have helped.

Dionne came to us for help setting up her cover in 2019, where the team at Caspian helped her take out a critical illness policy. She didn’t think she would be making a claim on her cover so soon, never mind for her daughter.

Dionne was in the process of remortgaging, so as a result, was remortgaging her cover. This was the moment when she found out she may be able to claim on her cover. She said, “It was just a random comment I threw out there about Sky being ill and the lady on the line reminded me that my policy covered my children too.”

She recollects the time period when “It went from one minute not remembering I had a policy and two months later having money in my bank account - it’s incredible. In terms of the process we went through to claim this cover, I had no issues at all. As soon as I sent the claim form off and the nurses confirmed her diagnosis, the payment was made. It was such a short, non stressful process.”

How the money helped

The money from your critical illness cover can pay for whatever you need it too, after all, once you’ve made a valid claim, the money is all yours.

Dionne recalls the last year and how the money has helped, “It’s been so tough on everyone so I have booked a once in a lifetime trip to Lapland for all of us, something I never dreamed I’d be able to do. Having this money has enabled me to do this and to give the girls a much needed and well deserved treat after such a difficult time. I am going to tell them a day before, it’s a total surprise for them! Money is always something everyone worries about but with the pay-out, it has been one less thing to worry about throughout all of this.”

How we help

At Caspian, we get to know you in order to recommend the right cover suited to you and your loved ones. We assess your needs, wants, affordability, and search through the UK’s leading providers in order to find the cover that‘s best for you.

Dionne talks about her experience with Caspian, “When I initially arranged my policy back in 2019, Caspian was great. It was a while ago but it was really simple, straightforward, they went through everything - no complications. Every year since then, they call to see how we are getting on and if we need to update the policy!”

Once we have helped you take out your life insurance policy, our customer service doesn’t end there. We help you with your trust forms, check in every now and then to ensure your cover is still right for you, and are always here if you need our help or advice in regards to life insurance. If you haven’t sorted your life insurance policy yet, please do not delay, get your free quote by clicking the button below.