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🏥 SERIOUS ILLNESS COVER

Serious illness cover — a tax-free lump sum when you need it most

1 in 2 people in Ireland will be diagnosed with cancer at some point in their lifetime. Serious illness cover ensures a diagnosis doesn't become a financial crisis.

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What is serious illness cover?

Serious illness cover pays a tax-free lump sum if you are diagnosed with one of a specified list of serious illnesses — typically including cancer, heart attack, stroke, and 50+ other conditions. Unlike income protection, which pays a monthly income, serious illness cover pays a one-off lump sum.

The money is yours to use however you need — treatment costs, adapting your home, paying off your mortgage, replacing income while you recover, or simply reducing financial stress during a difficult time.

It can be taken out as a standalone policy or added to a life insurance policy as a combined benefit.

Conditions typically covered

Most Irish insurers cover 50+ conditions. Common examples include:

✓Cancer (many types)
✓Heart attack
✓Stroke
✓Coronary artery bypass surgery
✓Multiple sclerosis
✓Parkinson's disease
✓Motor neurone disease
✓Kidney failure
✓Major organ transplant
✓Blindness
✓Deafness
✓Loss of limbs
✓Aorta graft surgery
✓Heart valve replacement
✓Benign brain tumour
✓Coma

* Exact conditions and definitions vary by insurer. Always read the policy schedule carefully.

Why policy wording matters

Not all serious illness policies are equal. The definitions used by each insurer for each condition vary significantly — and a claim can be refused if the exact definition isn't met, even if you've been diagnosed with the illness.

For example, some insurers define "heart attack" more narrowly than others. Royal London is known in the Irish market for having more favourable and broader definitions on certain conditions. This is one reason why our recommendation considers more than just price.

Frequently asked questions

Is serious illness cover the same as critical illness cover?+
Yes — the terms are used interchangeably in Ireland. Serious illness, critical illness, and specified illness cover all refer to the same type of product.
Does it pay out for any illness?+
No — it pays out only for conditions specifically listed in the policy. The insurer's definition of each condition must be met exactly. This is why it's important to compare policy wordings, not just premiums.
Is the payout taxable?+
The lump sum paid by serious illness cover is generally tax-free in Ireland, as it's treated as compensation for personal injury rather than income.
Can I add it to an existing policy?+
In most cases, serious illness cover must be taken out as part of a new life policy rather than added to an existing one. However, your adviser can review your options.
What happens if I make a claim — do I keep my life cover?+
This depends on the policy structure. With "accelerated" serious illness cover (the most common type), a claim reduces or eliminates the remaining life cover. "Standalone" cover pays independently and leaves the life cover intact, but costs more.
Are children covered?+
Most insurers include a children's serious illness benefit automatically — typically paying a percentage of the sum assured if a specified illness is diagnosed in a child. Check the policy terms for details.

Talk to an adviser about serious illness cover

Our advisers can discuss your options and provide a personalised recommendation.

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