Financial Planning Guide & Calculators About Ask Financially Financial Calculators Login to your account Contact Ask Financially  
Guide to Critical Illness Cover Insurance
username:
password:
 
Registering for an account allows you to store your calculations and come back to them whenever you need to. Register here, it's simple.




Critical Illness Cover - Protect your family or mortgage. Get a cheap quote & apply online.

Cover Critical Illness - Compare Critical Illness Insurance. Get quoted now at Confused.com.

John Lewis Life Cover - Get Life Cover with John Lewis and receive a £50 voucher.

Critical illness premium options

Most insurers offer several types of critical illness premium options, the type of premium option you select will affect how much your critical illness insurance costs overall. The table below outlines the most common type of premium options you may be offered:

Premium option How it works
Guaranteed You are quoted a premium amount at the start of the policy which stays the same for the term of the policy. This type of premium may initially seem more expensive than other options but can work out cheaper overall.
Reviewable* Your premium is not fixed and is reviewed at regular periods during the term of the policy (usually every 5 or 10 years), this can result in your premium either staying the same, decreasing or increasing. You usually pay a lower premium to start with but have no control over how much your premiums may increase by later on.
Renewable* This applies to renewable term policies where your premium and insurance cover are renewed a regular intervals. Your premium may decrease or increase as a result of being renewed.

*Premiums are usually reviewed against the insurer's claims history, financial markets and medical and health care advances.

Which premium option is best for you will depend on your current and future financial circumstances and your immediate and long term insurance needs. If you need advice or assistance, an independent financial advisor or specialist health care insurance broker can help you identify your needs and match them to appropriate critical illness insurance products and policy options.

Download the Critical Illness Cover Insurance PDF Guide here - see our other free PDF guides here

Guide Contents

What is critical illness insurance?
Why you might need critical illness insurance
What are the different types of critical illness insurance?
Critical illness premium options
Shopping around for your critical illness insurance
Applying for your critical illness insurance
Critical illness insurance FAQs
Where can I go to get more help?

main menu << previous page  next page >>

financial guides insurance guides personal goal calculators

savings calculators