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What is Critical Illness Insurance?

Critical Illness Insurance Explained

Critical illness insurance cover pays a tax free lump sum on diagnosis of a listed serious illness. It can provide cash to allow people to pursue a less stressful lifestyle or to use for any other purpose. Terminology used within the policies can be confusing and it can be hard to work out what you are covered for. To the average healthy person definitions like “in situ carcinoma” or “pre-malignant" or "non-invasive cancer” are confusing.

The policy will contain a list of covered illnesses along with a description or definition of the level of illness required to qualify under the policy. We can help you understand your policy and advise you as to whether your insurer has made a fair decision.

The Consumer Insurance Act

The Consumer Insurance (Disclosure and Representation) Act 2012 came into practice early May 2013.

The objective of the act is to better protect consumers when buying insurance and to ensure they know what they have to disclose. Instead of relying on consumers to volunteer information this will be put on the insurer to ask the relevant questions they want answers to.

It is a long awaited change in legislation that without any doubt was necessary. In effect the rules adopt the approach that has been taken by the Financial Ombudsman when dealing with complaints.

The new Act will protect consumers taking out policies after May 2013. Insurers will not be able to turn down a claim unless the consumer deliberately, recklessly or carelessly gives incorrect or incomplete information.

How We Can Help

We will fully consider your individual case and advise you whether you have any redress. This will often involve us studying your policy, other paperwork and medical history. Around one in five life and critical illness policies are rejected by Insurance Companies. A large number of these rejections are unfair. Insurance Companies are resourceful and powerful. It can be hard to take on an Insurance “Giant” by yourself, something that we fully understand from first hand experience.

To maximise your chances of challenging the decision we can assist you in finding your way to a fair resolution of your claim with expert understanding and skilled legal strategy.

Tips

  • Make sure you get advice as quickly as possible following a denial or rejection. There are strict time limits.
  • Provide us with all documentation you have relating to your claim.
  • Don’t give up

Email Us or Call Us today on 0151 677 3333 for advice and assistance.

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