Accident and Critical Illness Insurance

When it comes to insuring against accidents and critical illness, an ounce of prevention is worth a pound of cure. Most experts will tell you that nobody should go through their financial and working life without a safety net.

Years of hard work and savings can quickly disappear if you’re not insured against a serious illness or accident and are unable to work in the long-term. In some scenarios, people can experience a financial loss that sets them back for decades if they have to cash in investments or can’t afford mortgage payments.

That’s why it’s recommended to speak with a financial advisor, so they can talk you through your options and see if  insurance cover against accidents and critical illnesses is right for you.

In this article, we’ll cover…

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What is accident and critical illness insurance?

Accident and critical illness insurance is an insurance policy that pays out a lump sum in the event that you are diagnosed with a serious health condition or suffer from a serious accident. If the cover is triggered, the amount payable will depend on the severity of the illness or accident.

Personal accident insurance is often taken out by people who have hazardous hobbies, sports, or work. While critical illness insurance gives peace of mind that your financial needs will be met if you were to fall ill – a situation which might impact on mortgage repayments.

Getting insurance cover for accident, sickness and critical illness would give you a comprehensive safety net to see you through any serious impact on your health.


How does accident and critical insurance cover work?

The policyholder pays a monthly premium to their accident and critical insurance provider. If they suffer from a covered critical illness or have a life-changing accident, they can make a claim. The insurance provider will then make a tax-free lump sum payout to the policyholder within days of diagnosis.

These insurance products ensure you and your dependants remain safe and sound through both the good and the bad. That’s why they’re often considered to be a non-negotiable safety net for those with a mortgage or a family to support.

If you’d like help in deciding which insurance provider would offer the best policy and rates get in touch. We work with experts with years of experience in helping people find the cover that would best suit their needs.


Does accident and critical illness cover accidents?

Some accident and critical illness insurers do cover severe medical conditions that result from an accident such as a severe head injury, blindness, or going deaf. However, less severe medical conditions, such as a broken arm or leg, are often not covered by accident and critical illness insurance.

The provider will determine which critical conditions resulting from accidents their policy covers, and this varies from one insurer to the next.

For tailored advice on how to get critical illness insurance that also covers a range of medical conditions resulting from accidents, it’s best to speak to an expert financial adviser. Advisers can help you decide which type of cover would best suit your situation and whether you should take out cover for critical illness, accidents, or both. Make an enquiry and we’ll connect you with an expert.


Accidental and critical illness insurance terms and conditions

Accident cover protects against a range of permanent or semi-permanent disabilities that could result from injury. Commonly covered critical illnesses include heart attacks, stroke, and cancer.

Here are some common situation-specific factors that will impact on the terms and conditions of accident and critical illness cover, and how much your monthly payments will be…

  • Your current health and family medical history
  • Whether or not you smoke or have smoked
  • Your occupation and how much injury risk it involves
  • The amount of money you’d like to receive in a payout

Make an enquiry for more information on insurance terms and conditions. The financial advisors we work with can quickly search the entire market and take you directly to the provider with the best quotes and terms and conditions for you.


Life, critical illness, and accident insurance

In addition to critical and accident insurance, you may want to consider taking out life insurance, which would provide financial support to your loved ones should you die. Life insurance often becomes important in situations where one person is the primary breadwinner of the family, and the loss of a single source of income would leave dependants in financial difficulty.

However, since life insurance only covers death, it won’t make any payouts to help cover a critical illness or a serious accident.


Speak to an accident and critical illness insurance advisor today

Accident and critical insurance products provide you with the peace of mind should something unexpected impact your earning ability. Financial prudence pays off massive dividends and protects you and your loved ones through any difficult times you may encounter.

But you can only properly protect yourself when making a fully informed decision on which insurance cover to take out. An insurance advisor knows how to read between the lines of insurance providers’ policies, and terms and conditions.

Give us a call on 0808 189 0463 or make an enquiry, and we’ll connect you to the right advisor for your situation.

We'll match you with your perfect financial advisor

Save time and money with an expert who specialises in cases like yours

We'll match you with your perfect financial advisor

Save time & money with an expert who specialises in cases like yours.

We’ll match you with your perfect financial advisor – for free.