Summary

Making a critical illness insurance claim should be simple, but it so often isn't. The ( mortgages ) newspapers are now starting to publicise the insurers' reluctance to pay out, and explain how this problem has arisen.

Critical illness insurance - making a claim isn't as straightforward as you might think . Click here for page 2

Author: Anna Richardson

We don't advise you to take the rejection rate figures too

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Life Insurance News

seriously, because the figures do not show the whole picture. For example, Scottish equitable Protect are published as paying out for 72% of claims, and Friends Provident pay out for 75%. Scottish Provident pays out on 86.3% of claims. So obviously applicants will favour Scottish Provident, but we do advise against this interpretation of the figures. This is because the figures reflect the whole ( unsecured loans ) period that the insurer has been in the critical illness insurance market. The shorter the time the company has been running for, the higher figures are likely to be. Guardian Financial Services, for example, have a very low rejection rate of 10%, but because they have been operating for over 15 years, the figures have absorbed the years that have been ( cheap loans ) lower and those that have been higher.

Critical illness insurance is an essential insurance, especially for families that have one main breadwinner. If the main income earner falls seriously ill and is unable to work permanently, the family could find themselves unable to cope financially and unable to pay the mortgage. So it is important that people are not put off getting critical illness insurance because of the (secured loans ) publicity. Be aware, however, that different policies have different rules, and the more basic policies cover fewer illnesses than the ( personal loans ) comprehensive plans. They usually cover:

Alzheimer's disease
Aorta graft surgery
Aplastic anaemia
Bacterial Meningitis
Benign brain tumour
Blindness
Cancer
Cardiomyopathy
Chronic lung disease
Coma
Coronary artery by-pass surgery
Creutzfeldt-Jakob disease
Deafness
Dementia
Heart attack
Heart valve replacement or repair
HIV or AIDs from an assault, blood transfusion, occupational duties or accident
Keyhole heart surgery
Kidney failure
Loss of independent existence
Loss of limbs
Loss of speech
Major organ transplant
Motor Neurone disease
Multiple Sclerosis
Paralysis/Paraplegia
Parkinson's disease
Progressive Supranulcear Palsy
Stroke
Third degree burns
Total and Permanent Disability
Cover for children

Critical illness insurance requires individual advice given by a professional, therefore we highly recommend seeking out an independent insurance adviser before making a decision. You can also find out a lot of information on the Internet, simply by typing 'critical illness insurance' into your search engine.