Critical illness cover

Financial support when you need it most

The plan that protects your family’s future

Critical illness cover protects you and your loved ones by providing a lump-sum payout if you’re diagnosed with a serious health condition.

At Wesleyan Financial Services, we help you find a plan that works for you - so you’re prepared for whatever the future holds…

  • Receive a tax-free lump sum if you’re diagnosed with a pre-defined condition
  • Get cover against an extensive list of the most common critical illnesses
  • Choose from single cover or joint cover with your spouse or partner
  • Add life cover for the possibility of two payouts for your family
  • Get expert advice from our Financial Consultants on the right plan for you

A bit of stability when life turns upside down

While we all hope it will never happen to us, serious illnesses are diagnosed in thousands of people every day. It affects not just the patients, but their families. Among many other things, it can put a serious strain on family finances. 

With less money coming in due to time off work, and the potential cost of treatment and recovery, financial support at these times can be crucial. 

That’s where critical illness cover comes in, paying a lump-sum benefit upon your diagnosis to make life that little bit easier.

How we can help

With something as important as critical illness insurance, you need to be sure you have the right cover in place. Cover that will come through for you when you need it most.

Speak to one of our Financial Consultants, and they’ll take the hard work out of finding it. They’ll discuss your circumstances, assess your future financial needs, and recommend a suitable policy from one of the leading providers we work with.

Your protection options

Nobody knows what the future holds, so for peace of mind, you may want to hold more than one type of protection plan. Here are some of the options you might want to discuss with your Financial Consultant:

 
Critical illness cover
Mortgage protection
Life assurance
Income protection
When does it pay out?
Upon diagnosis of a pre-defined critical illness
When you die
When you die
When you’ve been off work for a period of time through illness or injury
Lump-sum payout?
Yes
Yes
Yes
No - monthly payments
Payout can be used for any purpose?
Yes
No - can only be used to pay off mortgage
Yes
Yes
Length of cover
Duration of chosen term
Duration of mortgage
Whole of life
Duration of chosen term

Frequently asked questions

  • What counts as a critical illness?

    All critical illness insurance providers have a pre-defined list of conditions against which they will pay out. The exact list will vary between provider.

    Typically there’s around 50 illnesses covered, including most types of cancer, heart attacks and strokes.

    Just be aware that not every single illness is eligible for a claim. In some cases, you need to have permanent symptoms to make a claim.

    If you’re looking for financial protection against other types of illness or injury, you might want to consider income protection.

  • What types of critical illness cover can I get?

    With most providers, you can choose between level or decreasing cover. 

    With level cover, the payout always remains the same – whether you’re 20 or 60 when you’re diagnosed.

    With decreasing cover, the potential payout reduces over time.

    Decreasing cover is therefore typically cheaper, but won’t provide as much protection as you get older. Your Financial Consultant will help you decide what’s right for you.

  • How much does critical illness cover cost?

    You’ll pay a monthly premium for your critical illness cover. How much you pay will depend on a number of factors. These include your age, current health condition, lifestyle, and the level of cover you need.

    Your Financial Consultant will be able to provide a clear illustration of the costs involved.

    Note that the monthly premium you pay usually won’t change throughout the term, unless you choose to adjust the level of cover.

  • When does the policy pay out?

    This will depend on the terms of your plan. Each provider may have slightly different criteria for a payout. 

    Usually, providers will issue the payout shortly after diagnosis of the critical illness, unless you pass away in the 10-14 days immediately after your diagnosis.

  • Which is the right protection policy for me?
    If you’re not sure which kind of cover is right for you, make an appointment to discuss your options with a Financial Consultant. They’ll review your financial situation and make a recommendation tailored for you.

Important information

Wesleyan Financial Services is a broker and insurance products are provided by a number of selected insurers. 

Limits, exclusions and charges do apply. Full terms and conditions of the policy and cover, including the policy benefits and exclusions, will be contained in the Policy Wording and Policy Summary. 

Risk must be acceptable to underwriters at normal term.