What is a critical illness quote?

A critical illness quote provides customers with a price for critical illness insurance in the UK. A critical illness insurance policy provides customers with an insurance policy which will pay out a lump sum if a customer is diagnosed with a critical illness and makes it through the survival period.

The survival period will vary in length from insurer to insurer but is generally around 28 days long, and is the period of time from first diagnosis that a customer must live to be eligible to make a critical illness quote claim.

The list of critical illnesses on a critical illness quote will also vary from insurer to insurer so it’s important to check the list before you sign up. Some policies will have over 100 illnesses, although many may be obscure, while other policies will have 30 illnesses, although they will be the 30 most common illnesses and a good place to start with cover. You should remember that the first ever critical illness quote had just four illnesses.

Where does critical illness insurance come from?

The first critical illness quote was given in 1983 in South Africa after world renowned surgeon; Dr Barnard grew frustrated that customers were spending more time worrying about their finances as a result of being unable to work as they were too ill, and not enough time worrying about getting better and focusing on their recovery.

Critical illness insurance remains the only insurance policy offered anywhere in the world to have been created by a medical professional, and after nearly 30 years is still going strong. After the first critical illness quote had just four illnesses, one critical illness quote offered in the UK now has over 160 different illnesses.

Why do I need a critical illness quote?

It’s important to look at a critical illness quote if you have financial responsibilities like children or a mortgage. Without your income you may struggle to provide for those children, and a critical illness can stop you from working for several years.

A payout from a critical illness insurance claim will make a huge difference to your financial worries and allow you to concentrate fully on your recovery. Many customers use their critical illness quote payout to simply replace lost income, although some customers use the money to pay for private medical treatment instead.