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Private Health Insurance – Cancer Cover

A Cancer diagnosis is something you can never prepare yourself for, but there are policies out there which can help to protect you. Critical Illness Cover provides you with financial protection should you be diagnosed with a severe or critical illness. For years, Critical Illness policies have been associated with Cancer and it’s easy to understand why. Cancer diagnoses are often sudden and can adversely affect your finances in many ways.

A Critical Illness policy can help to improve quality of life, maintain living expenses or even settle outstanding debts like your mortgage.

Financial protection for Cancer sufferers

A Cancer diagnosis is something you can never prepare yourself for, but there are policies out there which can help to protect you. Critical Illness Cover provides you with financial protection should you be diagnosed with a severe or critical illness. For years, Critical Illness policies have been associated with Cancer and it’s easy to understand why. Cancer diagnoses are often sudden and can adversely affect your finances in many ways.

A Critical Illness policy can help to improve quality of life, maintain living expenses or even settle outstanding debts like your mortgage.

How does a Cancer Critical Illness policy work?

Critical Illness policies will provide you with a tax-free lump sum upon a successful claim. As a Cancer and Critical Illness policy holder, you will have complete control on how you choose to spend the payment should you need to claim. Many people choose to take out a Critical Illness policy to protect their mortgage, so they have peace of mind that their home is safe. Others choose to pay for additional treatment or for adaptations to their home which can enhance their standard of living.

It is important to note when considering a Cancer and Critical Illness policy, that the sum assured may decrease or increase over time. Decreasing cover will most often apply to policies that are intended to pay off a mortgage and will decrease at a monthly/yearly rate of between 0% and 15%. Rates for increasing Critical Illness cover will be either set at a fixed rate of between 2% and 5% or be based upon changes to the retail price index (between 2% and 10%).

Critical illness Cover claims will be accepted so long as your diagnosis falls within your plans list of accepted critical illnesses or meets the stated definition of total permanent disability.

Critical illness claims may be denied if:

  • The claimant dies within 10 days of being diagnosed with an eligible critical illness or total permanent disability.
  • The claimant’s diagnosis does not meet the terms or definitions set out in their Critical Illness policy.
  • It is a result of a medical exclusion to your policy.
  • The claim is a result of an intentional self-injury.

How much Cancer and Critical Illness Cover should I apply for?

How much Cancer and Critical Illness cover you should apply for will depend on your current financial circumstances. We can’t tell you how much the amount of cover you will need, but we can help guide you. When considering the amount of cover you may need, make sure you think about:

  • Your annual Income (after Tax)
  • Mortgage/rental payments (annual)
  • Cost of living (annual)
  • Any other potential costs (e.g. medical treatment or adaptations)

How much Cancer and Critical Illness Cover should I apply for?

How much Cancer and Critical Illness cover you should apply for will depend on your current financial circumstances. We can’t tell you how much the amount of cover you will need, but we can help guide you. When considering the amount of cover you may need, make sure you think about:

  • Your annual Income (after Tax)
  • Mortgage/rental payments (annual)
  • Cost of living (annual)
  • Any other potential costs (e.g. medical treatment or adaptations)

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What is the average cost of health insurance UK?

One of the top questions that people ask about health insurance is, ‘how much does it cost on average per month?’. According to recent research taken in 2023, the average cost of a health insurance is £86 per month for a standard personal protection policy. Health insurance policies can vary dramatically based on your age and the type of cover that you need, as well as which insurance provider you choose.

Most core health insurance policies will provide a similar level of protection and coverage for private medical treatments. You can tailor your health insurance policy to suit your needs and your budget by changing the benefits and levels of cover that you receive.

Is health insurance worth it?

Health insurance is the same as most other personal protection policies that you can buy, it is down to your own personal preference and attitude to risk. The other major issue is whether you can afford to pay for health insurance every month because it can be expensive.

If you ever need to claim on your health insurance policy then the benefits can be life changing and even lifesaving. The medical treatments and care that is provided by the NHS in the UK is among the best in the world, especially for chronic illness. Unfortunately, it is a well-known fact that the NHS is struggling to meet demand and that the levels of private medical treatment are generally far superior to public health treatments.

Example: If you needed knee surgery then you would have to wait for months or even years on the NHS, whereas private health insurance will give you access to better treatment, leading specialists, and within weeks usually. Rehabilitation and therapies cover that are also provided by most health insurance policies can be invaluable, especially if you are self-employed for example.

Is private health insurance better than the NHS?

Currently, the biggest issue with the NHS is the waiting times for any consultations and access to treatments, because of how stretched its resources are. The NHS provides some of the best care in the world for chronic illnesses and diseases, such as diabetes, MS, epilepsy, and asthma.

Health insurance is designed to complement and support the treatment that you can receive on the National Health Service, as well as giving you access to specialists for other medical issues such as musculoskeletal issues and cancer treatment, which are also the top reasons for claims on health insurance cover.

The main issues with NHS treatment currently and reasons for people taking out health insurance:

  • Long waiting lists for consultations, results and treatment
  • Overcrowded hospitals
  • Lack of beds
  • Shortages of NHS nurses and doctors
  • Some treatments not available (especially cancer treatments)
  • Specialists only available on private health insurance
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What is the best health insurance UK?

There are lots of different policy options when considering health insurance as well as your choice of several main insurance providers. The other consideration is whether you don’t take out health insurance and opt for receiving treatment on the NHS or paying for treatment yourself as and when you need it.

We’re constantly reviewing the top health insurance companies in the UK to find out which provide the best service, value, products and treatments. Based on our most recent reviews we suggest the following as the best health insurance UK 2023:

  1. Aviva Healthcare Solutions (Trustpilot score: 4.1 out of 5.0)
  2. BUPA Health Insurance (Trustpilot score: 4.0 out of 5.0)
  3. Vitality Personal Healthcare (Trustpilot score: 3.9 out of 5.0)
  4. Exeter Health+ (Trustpilot score: 4.4 out of 5.0)
  5. AXA PPP (Trustpilot score: 4.1 out of 5.0)
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https://www.iaminsured.co.uk » guides

Best Private Health Insurance 2023 - iam|INSURED

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At iaminsured.co.uk, we believe in much more than just insurance policies; we believe that everyone is unique and should be treated with the fairness that they deserve. We also believe in providing the very best financial protection, and giving you peace of mind to continue with your busy life without the stress or worry of what might happen.

We are dedicated to providing the best outcomes that we can and access to the best insurance solutions in the way that our customers want or need. We understand that everyone is totally unique in how they want things done and their own individual circumstances, which is where our totally unique approach to financial protection is driven from.

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With nearly three decades of expertise and established with a commitment to excellence in everything that we do. We have been a trusted partner for thousands of families, individuals and businesses, all with one common goal of looking for the best protection solutions.

Our Mission: To provide easy access to fair pricing, affordable protection and the very best financial security to families and individuals. We are dedicated to offering comprehensive insurance solutions that safeguard the well-being of our policyholders. Guided by integrity, transparency, and a commitment to excellence, we strive to empower consumers and families to face the future with confidence. Our mission is not just about policies; it's about protecting dreams, ensuring legacies, and being a trusted partner on life's journey.

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