Critical Illness Cover

What is Critical Illness Cover?

Critical Illness Cover is a life insurance policy which pays out a lump sum of money in the event of being diagnosed with a specified critical illness. This money can be used to:

  • Help maintain your current standard of living
  • Reduce or repay your mortgage
  • Pay for specialist treatment
  • Pay for support in the home
  • Pay for adjustments to your home

Do I need Critical Illness Cover?

If you or your financial dependents would suffer financially in the event that you are diagnosed with a critical illness then this might be the kind of cover you need.

I have Critical Illness Cover at work, do I still need additional cover?

That depends. Some people will want to include their work’s benefits when addressing a critical illness cover shortfall calculation and others prefer to have a policy set-up independently from their workplace so as to ensure that if they change jobs or retire, they still have a policy in place specifically designed to protect their needs.

I have an existing life policy with Critical Illness Cover, do I still need cover?

We would look at your exiting provision to confirm its suitability for your current needs and make recommendations accordingly.

I’m young and healthy, why setup Critical Illness Cover now?

We recommend Critical Illness Cover to individuals and couples for whom a need has been identified. We understand that when you’re young and healthy the last thing you might want to imagine is being diagnosed with cancer or suffering a stroke. The reality is that nobody plans a time to be ill. To put it another way, you wouldn’t expect to buy a new car insurance policy after a car crash, and expect them to accept a claim.

How would your lifestyle be affected in the event that you suffer a critical illness such as a heart attack, stroke or cancer?

How much cover should I have and for how long?

Contact us for a chat. We’ll help you quantify your need for Critical Illness Cover and for how long.

How much does it cost?

The cost of Critical Illness Cover is typically cheaper when someone is younger and in good health. As people get older and start to have more medical complications, the cost tends to rise. Contact us today for an indication on cost.

How much do you charge for providing Critical Illness Cover?

We do not usually charge a fee for advice and arranging an insurance product. We will receive a commission from the insurer and this is reflected in the premium amount you pay them. All commissions would be disclosed to you before agreeing to proceed.

Can I get this type of cover online? Could I use a comparison website?

Buying online without proper advice means you run the risk of setting up the wrong policy and / or not setting it up in the correct manner. This could affect any payouts, and mean that they are subject to taxes you’ve not planned for and / or that they are not paid out in a timely manner.

Have a look, then contact us with your quotation to see how competitive we are.

Plato Financial Services only recommend the UK’s leading life insurance providers based on comprehensive critical illness cover definitions, great customer service, a strong track history for claims payouts and competitive premiums.

Do your existing provisions meet your current or future objectives?


Critical Illness plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document if you go ahead with a plan. Tax planning is not regulated by the Financial Conduct Authority. Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.

How can Plato help?

We are insurance intermediaries offering products from a range of insurers based on a fair and personal analysis of the market for Life Assurance, Critical Illness Cover and Income Protection Insurance.

We’ll discuss and help identify your protection needs and recommend solutions for any shortfalls you may have.

We understand the delicate nature of discussing death and ill heath and will do so in a considerate manner. We have over 20 years experience in helping people create financial security and peace of mind for life’s less fortunate events.

We’ll help ensure that your Critical Illness Cover policy is written in the correct manner, which means that any claim would be paid out in a timely manner, tax efficiently, and to the correct people.

A word from our clients...

Contact us

  • Call us 020 3773 1210
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  • Meet us 1 Beauchamp Court, 10 Victors Way, Barnet, EN5 5TZ
  • Office hours Mon-Fri 8am-6pm

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