How to make a claim

Critical Illness

How likely is it that I would need to claim and when would such a policy pay out?

This is a difficult question; all insurance policies are based upon risk, in this case how likely you are to suffer one of the stated critical illnesses that the policy you end up taking out covers or becoming permanently and totally disabled, during the term of the policy.

If you are a smoker, overweight, work in a dangerous job or have a family history of illnesses such as cancer, then you will be deemed higher risk by an insurance company for a critical illness policy and therefore be more likely to claim.

However, predicting your likelihood of needing to make such a claim on such a policy due to illness is almost impossible. Anybody can become sick, no matter how healthy a life that they lead, and therefore critical illness insurance is could be important to anyone.

The Office of National Statistics say that in 2003 27.9% of male deaths were from cancer and 21.6% were from heart diseases. For women it was 22.9% from cancer and 15.8% from heart disease. (www.statistics.gov.uk).

Apparently 1 in 3 people will develop cancer during their lives. Surviving cancer will depend upon the type of cancer, sex, age and perhaps even your socio-economic status.

If you were to become ill and you did need to make a claim there should be no problem with your policy paying out if you were honest at the time of filling out your application for the policy.

The media has focused recently on a number of critical illness policies that have not paid out when a claim has been made. Most cases of this nature arise because the policyholder failed to disclose honest information when completing their application.

The policy must also offer cover for the specific illness that is contracted otherwise a claim may not be successful, making it very important to understand the type of policy and cover that you are getting from it.

Daai Financial Independent Tailoring can advise you on all aspects of critical illness insurance including more details surrounding the payout and claims procedures involved.

Our comparison service and advice surrounding critical illness insurance is free (unless you opt to pay a fee for the advice). Our staff are not paid commission on the products they sell but are paid salaries, meaning that they act in a truly independent way when advising you on the products available within the UK's critical illness marketplace. This should help to get you the most appropriate policy for your requirements at the best price.

Comparing critical illness assurance with us means that you will have access to the entire UK critical illness assurance marketplace. All you need to do is complete our online quote form by click on the Get a Quote button above.

Daai Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Daai Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.