Critical Illness Insurance


The current way of life, diet, fast pace of everyday life, stress and anxiety are often the cause of serious diseases.

The aim of insurance of critical illnesses is the financial support of the insured and his family, after the diagnosis of a serious disease or critical illness, a serious injury or a serious state of health. After the occurrence of a critical illness or serious health condition, despite the psychological support, the insured person needs immediate capital for survival and costs for changes in his everyday life.

The insured value that has been agreed is paid regardless of whether there is hospitalization of the insured or not and usually is paid either in lump sum (one installment) one month after the date of diagnosis, or gradually (in installments). It is not compulsory for a public service to verify the seriousness of the insured’s state of health. The amounts that can be covered start from 10.000 € and can overcome 300.000€.

The insurance for critical illnesses can be incorporated into health/ life insurance policy or can be standalone contracts. Hence, if someone has health insurance policy and cover for critical illnesses, apart from the hospital expenses that will be covered for the improvement of his health condition, he will also receive the agreed capital from the cover of serious diseases.

Which cases are covered:

Myocardial infarction, Coronary heart disease requiring surgery (at least double bypass), Stroke, Cancer, Blindness, Basic organ transplant, Cardiac valve surgery, Aortic surgery, Systemic scleroderma, Εnd-stage liver cirrhosis, Heavy burns of third degree, Multiple Sclerosis, Parkinson’s Disease, Alzheimer’s Disease, Severe Dementia, Paralysis (unable to use limbs), Major head trauma, Loss of limbs, HIV, deafness, renal failure, paraplegia, quadriplegia etc.

How much can cost a contract covering critical illnesses?

Usually, the way of calculating the fees is similar in insurance companies, it is revised every 5 years according to age and it is independent of gender. Below is an indicative table of insurance fees for a 50.000€ cover (non-smokers).

  • 20-24 years old 162€/ annually
  • 25-29 years old 171€/ annually
  • 30-34 years old 185€/ annually
  • 35-59 years old 202€/annually
  • 40-44 years old 236€/annually
  • 45-49 years old 298€/annually
  • 50-54 years old 417€/annually