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Nobody plans to get seriously ill, but, if you’re sensible, it is worth planning for it. If you develop a serious illness and are unable to work for an extended period, it can quickly push you into financial difficulties.

If you have savings, they can soon disappear if you are forced to give up work for weeks, months or even years. If you do not have savings, you can soon find yourself in real hardship. This can be especially problematic for those with a family to support.

In this article, we will look at the benefits of critical illness cover, what critical illness covers, who most needs this kind of insurance and what to look for in a critical illness policy.

The benefits of critical illness cover

Statutory Sick Pay (SSP) in the UK is currently only £89.35 per week. That’s the equivalent to only around £387 per month – an amount most people would be unable to survive on, even without children and other dependents.

Critical illness cover offers a way to avoid this kind of calamitous situation. Instead of being forced to survive on Statutory Sick Pay alone, or eating into your savings, you can get a tax-free lump sum to help replace the income you lose while ill.

This provides a vital safety net, helping you to keep your head above water and giving you time to get back on your feet.

Critical illness insurance gives you peace of mind that if you become ill, you won’t have to worry about the cost of living. Instead, you can focus all of your energy on getting better or learning to adapt if full recovery is not possible.

The money you receive can keep you and any dependents financially secure and avoids situations like getting behind on your rent or mortgage payments, which could leave you homeless – something you do not need to be dealing with when you are ill.

Critical illness cover will often be offered as a joint policy with life insurance and you may have the option, if you become seriously ill, to make a claim for a portion of your potential life insurance payout during your illness, while leaving the rest of the money in the policy to be paid out in the event of your death.

What critical illness covers

critical illness policy will normally cover you against a range of the most commonly serious medical conditions which will generally require you to give up work for an extended period.

Exactly what is and isn’t covered will vary from policy to policy, so it is worth carefully checking what is included, especially if you have a personal history or family history with any particular conditions.

Typical conditions covered include:

  • Bacterial Meningitis
  • Cancer
  • Coronary Artery bypass grafts
  • Heart Attack
  • Kidney Failure
  • Major Organ Transplant
  • Multiple Sclerosis
  • Stroke

Some pre-existing conditions may be excluded, so if you have already had a serious illness in the past, it is worth checking how this will affect your cover.

There will often be a cut-off period, after which any previous conditions will no longer be excluded, but again, this depends on the particular policy.

As a general rule, you will not be covered if your condition is the result of you failing to seek or follow medical advice.

Our policies are guaranteed acceptance – this means no matter who you are, or what pre-existing conditions you have, we will cover you.

Who needs critical illness cover?

Everyone should consider critical illness cover, but it is particularly important for the self-employed. Those who are self-employed often do not have any form of sick pay if they become too ill to work. It is also highly advisable to take out a policy if you have a mortgage.

Your mortgage lender will normally insist on you having life insurance as a condition of your mortgage, but critical illness cover is also a good idea to make sure you do not have to worry about being able to make your mortgage payments if you do become seriously ill.

What to look for in a critical illness policy

When looking for critical illness cover, it is important to make sure the policy you choose will give you adequate protection and fit with your unique needs.

At ESMI, our life and critical illness policy offers a number of important features that we believe make us the standout choice for critical illness cover. When shopping around for your policy, we believe the following features we offer are hard to beat:

  • Our policies are guaranteed acceptance
  • Get up to £100,000 in cover
  • Pay as little as £24.96 per month
  • Critical illness cover is renewable up to age 61
  • Get life insurance as part of the same policy
  • We do not require you to answer any medical questions, fill in any medical forms up front, or take a medical exam.
  • Your premiums are fixed for 5 years (or longer, depending on your age)
  • We offer a 30 day money-back guarantee
  • You can cancel at any time after the first 30 days
  • You can apply online in minutes

Get critical illness cover, no matter who you are

Essential Supplementary Medical Insurance (ESMI) provides critical illness cover, general health protection insurance and life insurance, both to individuals and businesses. This helps to ensure the financial security of you and your family in the event you become unable to work due to a critical illness, any other illness, or if you pass away.

Each of our insurance products is guaranteed acceptance, meaning we will cover you no matter what your medical history contains. Using our fast, straightforward online application system, you can easily get yourself covered in no time. It is also worth noting that we don’t bump up our premiums based on your job or how much you drink, unlike many other life insurance providers.

Our policies are deliberately designed to be clear and simple, meaning you know exactly what you are getting for your money. We offer a 30-day money back guarantee, for complete peace of mind, and you can also cancel your policy at any time after the first 30 days. This gives you complete flexibility with your cover.

Apply now to make sure your family is protected, no matter what. If you would like to find out more about our policies or service, please don’t hesitate to get in touch.