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Critical illness exclusions

Sometimes we are unable to offer full Critical Illness Cover so it may be necessary to exclude core conditions or specific impairments.

 

Premium reduction exclusions

There are 4 exclusions that would result in a reduction in the premium:

  • Cancer
  • Multiple Sclerosis
  • Breast cancer
  • Breast and ovarian cancer

The premium reductions reflect the incidence of claim for that condition. Cancer is the most common reason for claiming under a critical illness policy and accounted for 65%* of all Critical Illness claims in 2016.

The actual reduction in premium will vary depending on the individual applicant.

An example would be: a female, non-smoker applying for Critical Illness Cover would receive a 30% premium discount if cancer is excluded as a core critical illness condition.

 

Non premium reduction exclusions

There are various exclusions that will not result in a reduction in premium and a few examples have been listed below:

  • Blindness
  • Deafness
  • Occupation

The reason that a reduction is not given for these types of exclusions is due to the very low incidence of claims associated with these.

*Source: Scottish Widows, based on the number of critical illness claims paid out by Scottish Widows between January 2016 and December 2016.

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Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655.

Scottish Widows Unit Trust Managers Limited. Registered in England and Wales No. 1629925. Registered Office in the United Kingdom at Charlton Place, Andover, Hampshire SP10 1RE. Tel: 0345 300 2244. Authorised and regulated by the Financial Conduct Authority. Financial Services Register number 122129.

HBOS Investment Fund Managers Limited, registered in England number 941082. Registered office in the United Kingdom at Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority. Financial Services Register number 119223.

Scottish Widows Bank is a trading name of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales, no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 119278.

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