Answered by Andrew Jenkinson
Critical Illness Cover is an insurance which pays out a tax-free lump sum if you are diagnosed with one of a range of conditions (between 30-50 medical conditions depending on the insurer). These conditions vary from insurer to insurer and are defined in the policy documentation but there are seven core conditions that are covered by most critical illness policies which are cancer, coronary artery bypass, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke.
Insurance, known as Serious Illness Cover, is available from PruProtect which covers a much wider range of illnesses (100 conditions or 161 with comprehensive cover). However whereas critical illness insurance always pays out 100% of the amount assured the payout from serious illness insurance depends on the severity of the condition and can range from 10% to 100%.
Frequently Asked Mortgage Protection Insurance Questions
Great! Efficient and polite service, more interested in finding the right product for you than pushing the hard sell. Would definitely recommend.
Drewberry was very quickly able to identify our needs and present several options for Life Insurance coverage for our employees. They were extremely professional and timely in their process. Highly recommend.
Efficient and friendly service by Sam at Drewberry Insurance. Quick to respond to any queries I may have and very patient with all my questions. Would use again.