Critical illness

macymoo

How "critical" does an illness have to be to be classed as a "critical illness"or does this vary depending on the company?

OshayAway

Critical illness plans do vary considerably both in the number of conditions covered and the quality of the definitions.

In reality, comparing technical guides of individual conditions by provider is excruciating, even if yo know what you're looking for. So called comparison charts are generally out of date by the time they leave the printers and can be biased in how they display the details.

There is a minimum definition set out by the ABI that has to be met in order for a condition to be covered. However, many providers now boast "ABI+" conditions, awarded where they have more comprehensive definition resulting in a higher chance of payout.

Some now even have ABI+ for the top 4 illnesses claimed on, that is:

• Cancer
• Heart Attack
• Stroke
• MS

These account for in excess of 80% of all claims, industry-wide.

In addition to these factors, there are other things to consider. For example, many plans now have partial payouts on things like lower grade cancers and mastectomy. Also, 'any' or 'own' TPD may be available which will payout if you suffer illness or injury which permanently prevents you from working.

A good, whole of market broker will be able to steer you through these features and answer any questions you have.

mania112

Rule of thumb is 'long-term life changing' illness.

But the actual list of conditions covered varies from one provider to the next.

It also depends on pre-existing conditions and family medical history, which could result in exclusions unique to you.

kingstreet

macymoo wrote: »

How "critical" does an illness have to be to be classed as a "critical illness"or does this vary depending on the company?

Is there any chance you could make your question more specific to you and not a general "what does critical illness cover do" question?