In looking at critical illness cover, it is easy to get so involved that you forget that the purpose of the cover is to protect the family.
Insurer, Scottish Provident, says that children’s critical illness benefit is now their fourth biggest claims paid area over the last 5 years, with over £4 million having been paid out.
Not all critical illness policies automatically cover children. Not all insurers offer the option of including children. Children’s cover varies greatly between providers.
New breed of policies on the way
A new generation of critical illness policies will be on offer in 2007 after insurers agreed to use a standard definition of critical illness and clearly describe the illnesses covered. The reason is to make it crystal clear to the consumer, what is covered and what is not covered by the policy.
The 23 main illnesses defined will include three which some insurers are starting to include in their products;
- Alzheimer’s disease
- HIV infection
- Traumatic head injury
Insurers are developing new critical illness policies and we will add details of these to Private Healthcare UK as and when they are launched.