Wednesday 09 August 2017

Can I get critical illness cover if I’ve got a pre-existing condition

Author: Andrew Page

Critical illness cover

There are lots of types of insurance out there designed to cover you in case of injury, illness or even death. One of the most popular is Critical Illness Cover. Helping to provide you and your family with the financial support you need when you need it the most, these policies can be well worth the investment.

However, if you already suffer from a severe illness or chronic condition, getting cover is often difficult. Today we’re taking a look at whether or not it’s possible to get Critical Illness Cover if you have a pre-existing condition.

What is critical illness Cover?

Critical Illness Cover is a type of insurance that’s designed to provide you with a one-off lump sum payment if you fall ill with a specific condition. This tax free payment can be used to cover care costs, pay for modifications to your property or provide you and your family with a financial cushion while you’re unable to work. Dom Jones of says “Critical illness cover differs from income protection insurance because you will not receive a regular pay out to replace any loss of income.”

Conditions typically covered in Critical Illness Cover include certain types of cancer, kidney failure, heart attack, HIV, liver failure, blindness, stroke and Parkinson’s. A number of other conditions will also be covered, so check your policy for more information.

Why buy critical illness cover?

Most people invest in Critical Illness Cover to ensure they have the financial means to cope in case of serious illness. Although it may not be a condition of a mortgage to get this cover sorted, it is worth applying as part of the mortgage application process.  That way, the insurer can be doing their underwriting at the same time your lender is.

Pre-existing conditions

If you have already been diagnosed with a serious medical condition, or if you’ve made a claim on a Critical Illness policy in the past, getting cover now will be more difficult. In general, insurers will be reluctant to offer you cover if you’ve already been diagnosed with a condition covered by the policy. Even if your health problems wouldn’t be covered by Critical Illness Cover, a chronic condition or severe illness could prevent you securing a policy.

When applying for cover, it’s crucial you provide your insurer with a thorough and accurate medical history. If you omit any information when applying for Critical Illness Cover, it’s possible your insurer could decline to pay out in the event you suffer a serious illness.

To find out more about Critical Illness Cover especially if you do have a pre-existing condition, or to learn more about the types of insurance available, explore our site or contact a member of our team.

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Written by: Andrew Page