Helix | Healthcare LTD - Critical Illness

Critical Illness Protects you by generating a lump sum if you become seriously ill

Critical Illness Cover generates a lump sum payment within a short period of time (usually 14 -28 days after confirmed diagnosis) should the policyholder be diagnosed with having a specified Critical Illnesses.

Critical Illness Cover can be used to provide general protection. It has been designed to help protect the policy holder by generating a lump sum allowing him/her to utilize the cash in the best way they see fit. Often this money will provide the means to pay off the mortgage on the family home or by providing income for the individual and their family to maintain their standard of living.

With the improvements in modern medicine leading to higher recovery rates, particularly for cancer which will affect 1 in 4 men and 1 in 5 women by retirement age. This means that the lump sum generated by this cover could also be used to cover expensive treatments or an extended period of convalescence before the policyholder returns to work.

As the chances of developing a critical illness are far greater than the chance of dying, Critical Illness Cover tends to be 3-4 times more expensive than Life Insurance. Typically, however, a combined policy will work out much cheaper than separate Life Insurance and Critical Illness Policies.

What Critical Illnesses are covered?

Whilst most common major illnesses are covered by insurers, not all companies cover the same illnesses, so it is important to look at each insurers team and conditions. Illnesses usually covered are:

Alzheimer's Disease before age 65
Angioplasty
Aorta graft surgery
Benign brain tumour
Blindness
Cancer (most malignant types)
Coma
Coronary bypass surgery
Deafness
Heart attack
Heart valve replacement or repair
HIV/AIDs (named groups only)
Kidney failure
Loss of limbs
Loss of speech
Major organ transplant
Motor neurone disease before age 65
Multiple sclerosis
Paralysis/paraplegia
Parkinson's disease before age 65
Permanent Total Disability (PTD) before age 65
Pre-senile dementia before age 65
Stroke
Third degree burns

It was always something we were going to get round to but never did. Before we met up with Alex and the Helix team insurance was a bit of a minefield to us. They took time to find out what was important to us and then give us some recommendations which made sense and which more importantly we really understood. They handled the paperwork and set everything up. Really pleased with the service. Andy Heyes.

So what type of Critical Illness Cover are available?

If the policy is to be used solely to cover a repayment mortgage, then a decreasing term critical illness policy is usually the best choice, as the amount of money the policyholder will receive decreases in line with the outstanding mortgage balance.

Level term critical illness policy will often be an ideal choice for an interest-only mortgage, where the amount of the outstanding mortgage balance remains level during the term of the policy.

Level term critical illness is often the ideal choice for the those people wanting family protection until the children leave home, or until the surviving partner has retired. An add on to consider is an index-linked policy which will have the effect of ensuring that the policy holder can counteractact the effects of inflation on the value.

How do I know how much Critical Illness Cover is required?

Each individuals circumstances will be different. We can offer advice in this direction. However as a guide you need to work out the financial impact on you and your family in the event of you becoming critically ill and not being able to return to work for some considerable time.

Helix Heathcare LTD

Critical Illness Protects you by generating a lump sum if you become seriously ill

What Critical Illnesses are covered?

So what type of Critical Illness Cover are available?

How do I know how much Critical Illness Cover is required?

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Email Us : enquiries@helixhealthcare.co.uk