Critical Illness Cover

Critical Illness Cover is a policy which will pay out a lump sum to the policyholder if they are diagnosed with one of the specified illnesses that the policy covers. Having a critical illness policy itself will not cure you, but it will help financially and that can make a huge difference. You may be unable to work or you might have to pay for expensive medical treatment and the lump sum payable in these cases will help ease your worries.
 
You are 4 times more likely to suffer from a critical illness before age 65 than to die, yet the majority of people do not take out critical illness cover.  Cost is often cited as a reason but it is possible to tailor the cover to suit both you and your budget.
 

Did you know?

  • 1 in 3 Irish people will develop cancer by the age of 75 and 10,000 suffer from stroke annually
  • Critical Illness policies do come with many restrictions and different life companies cover different illnesses, so it is important to contact an adviser before purchasing a critical illness policy.
  • Critical Illness can be purchased as part of a life assurance policy or it can be taken out as a standalone policy.

Find out more

For further information or for a competitive quote on Critical Illness cover call us free on 1890 299 299 or email life@onefinance.ie.

Frequently Asked Questions

  • Why am I getting different quotes for what appears to be the same level of cover from the same provider?

    One of the quotes maybe for mortgage protection.  The level of cover will decrease throughout as you repay your mortgage, which means lower premiums from the outset.  Ordinary term assurance will maintain the same cover throughout the term of the policy, which means the premiums will be higher.

  • Will I have to do a medical examination?

    This depends on your age and the level of cover you require. Generally speaking the younger you are the less cover you require means no medical exam will be necessary.

  • Can I extend the duration of my policy?

    If you take out a convertible/continuation option at the outset of the policy, it is possible to extend the policy for a further period, without any medical underwriting requirements. 

  • I used to be a smoker, but I haven’t smoked now for three years. Should I review my policies?

    Absolutely! Smoker rates can be twice the price of non smoker rates, given the risks involved with smoking.  Even though you may be older, it is worth checking this out.

  • The Serious Illness Quote I have is too expensive for my budget, what other options are available?

    You can take out different levels of life and serious illness cover on the same policy.  If people find the premiums a stretch, we often advise them to revise the cover down to provide themselves with the equivalent of one year’s salary which would be payable in the event of them contracting a serious illness.  This often turns out to be an affordable proposition for them.

  • What is the difference between 'single', 'joint' and 'dual' life cover?

    Single Life Cover is when you take out a policy on your life only and the claim is payable if you die or contract a listed illness on a critical illness policy.  Joint Life Cover covers two lives but pays out only on one life, on the first death or the second, depending on the type of policy taken out.  Many mortgage protection policies are taken out on a joint life basis and are paid on the first death.  It iss essential to remember there is only one payout with a joint life policy.  Dual Life policies also cover two lives but will pay a claim on both deaths so it's like having two single lives covered on the one policy.  Under a dual life policy each life can be covered for different amounts so it's possible to keep premiums lower if cost is an issue.  Our quote calculator currently provides quotes for both single and joint life policies.  If you would like a quote for a dual life please contact us on 1890 299 299.