What’s the difference between critical and serious illness insurance?

You’ve probably already thought about what would happen to you and your loved ones if you got sick – which his why you’re reading this guide. Many insurance companies are now offering cover for all kinds of health conditions. But it can be difficult to understand the benefits and drawbacks of each kind of policy, especially when the names are similar.

The good news is an experienced broker we can help you understand the difference between critical and serious illness insurance. We’ll take time to understand your circumstances before advising you on what might be more appropriate, whether it be critical illness insurance or serious illness cover.

Forces Advice offers both critical and serious illness cover from some of Britain’s award-winning insurers. Call us on 0333 772 0613 today with your questions, or to get a personal quote.

Should I buy critical illness or serious illness cover?

You get what you pay for – or so the saying goes.  However, it can be more complicated than a simple price to quality equation, as health-related insurance relies on many factors, such as:

• age
• lifestyle
• medical history

No one wants to pay for unnecessary insurance – but being underinsured is risky. So how do you decide?

As a general rule, critical illness cover is more economical than serious illness cover, while still paying out a large sum if you’re diagnosed with a critical health condition. Serious illness cover is more comprehensive, and insures against more complications. However, monthly premiums tend to be higher.

Got a specific question about critical illness or serious illness cover? Why not call an expert advisor now on 0333 772 0613?

For a more detailed explanation about the difference between critical and serious condition insurance, read on below.

Critical illness cover

A typical critical illness insurance policy covers you for about 45 conditions, all of which would be considered ‘severe’ – for example, if you had a heart attack or lost the sight in both your eyes. Typically, it offers a cash lump sum, payable on the diagnosis of such an illness. This lump sum will only be paid once, meaning your insurance policy will come to an end after your claim.

Critical illness cover can be a good option for someone who feels generally young and healthy – an individual who would like some degree of protection but doesn’t want to break the bank. If you are in the early stages of your career and have no family dependent on you, critical illness cover meet be appropriate.

Serious illness cover

This is a more flexible and robust policy, meaning it will cover you for many more conditions – in fact serious illness cover provided by Forces Advice covers some 178 conditions.  Further, it provides protection for ailments considered less ‘severe’. For example, if you had a minor stroke or lost the sight in only one of your eyes. In contrast to critical illness cover, it will pay out more than once. Say, for example, you were diagnosed with a benign form of cancer, you might want to claim only part of your lump sum, leaving the rest in case you developed a more serious health complication later on.

Another thing to note about serious condition insurance is that it will cover earlier stages of certain conditions. Together with the fractional claim option, this means you are 2 1/2 times more likely to get a payout from serious illness cover than from a typical critical illness policy.

Serious condition cover can be a good option for people who feel less sure of their health, or are getting older and/or have dependents. The only drawback is the higher cost of the premiums.

How do I choose between critical and serious condition insurance?

Enhanced versions are available for both critical and serious condition cover, which include protection from less severe conditions and offering features such as early diagnosis. It might make more sense for you to buy enhanced critical illness rather than serious condition cover, for example, when you weigh up the different factors.

As always when buying insurance, it’s worth speaking to a professional broker who can answer your questions in full and help you consider aspects which might not have occurred to you. After all, protecting your health is something to take very seriously indeed.

Need personal advice? One of our friendly, professional advisors will be happy to help. Call us on 0333 772 0613 with your questions, or to get quotes.

Looking for specialist forces insurance?

Speak to a member of our team today on 0333 772 0613

Contact us

Looking for specialist forces insurance?

Speak to a member of our team today on 0333 772 0613

Contact us