What is Total Permanent Disability on Critical Illness Cover?
Question asked by Paul James
I’ve recently been ill, and it’s made me wonder if I should take out an insurance to pay off my mortgage should I suffer from a serious illness. One that I’m looking at is Critical Illness Insurance. Is there an excess period for this type of cover before I could make a claim?
Can you claim as soon as your Critical Illness Insurance policy is live? Find out by watching our video with Drewberry’s Independent Protection Expert, Alex Weir. Just press play! 👇
We often get asked if you can claim straight away on a Critical Illness policy and it’s a good question. Typically, with most other insurances, there is a waiting period.
This is a set amount of time that a policy needs to have been live for before a claim can be made. With Critical Illness Insurance however, there is no such waiting period.
As soon as your policy has been underwritten and you’ve been notified that your policy is live, you can make a claim.
When it comes to setting up a Critical Illness Policy, the steps are quite simple. First, you will go through an application process with an adviser.
Whilst going through this, it is vital that you are open and honest about your medical history and lifestyle. This is because the insurer will use this to assess the risk that you pose. If you withhold or provide inaccurate information, it could lead to a claim being denied.
Generally, if an insurer is happy to provide cover, you will get a decision right away. If you’re notified your policy is live, if needed you could claim straightaway.
If you’re making a Critical Illness claim, the likelihood is that you’re going through a stressful time. The last thing you’ll want to deal with is an insurer’s claims process.
That’s why we recommend our clients contact us before making a claim, so we can support them through it. So, if you ever find yourself in this situation, don’t hesitate to get in touch. Just pop us a call on 02084327333 or email help@drewberry.co.uk.