Intense debate surrounds whether or not it is fair to pick out a handful of illnesses.
For
It makes cover available to those who cannot afford a full critical illness policy. Most critical illness policies do not cover major problem areas such as bad backs, stress, and depression
80% of critical illness claims are for cancer, stroke and heart attack. Adding life cover improves the value greatly.
Against
It is a gamble insuring cancer, if you then suffer long-term illness such as from a stroke or heart attack
Premium savings are small compared to the reduction in cover, due to the fixed costs of administering a product. 80% of critical illness claims does not mean 80% of potential critical illnesses, the figure could be as low as one in two.
Note
Even cancer only policies do not cover all types of cancer. But neither does the cancer cover under full critical illness policies.
Types of cover: Index
