Originally published: 2018 | Last updated: August 2025
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Cancer.
Heart attack.
Stroke.
The big three that make up around 85% of all serious illness claims in Ireland.
Recovery takes time, and bills don’t stop.
That’s where a lump-sum payout helps you focus on getting better, not stressing over money.
Also called Specified Illness Cover, it pays you a tax-free lump sum if you’re diagnosed with one of the illnesses listed in your policy.
You can spend the payout however you like — mortgage, bills, treatment, or just keeping life ticking over.
Serious Illness Cover fills that gap with a once-off lump sum.
The “big three” — cancer, heart attack, and stroke — account for the majority of claims.
Other illnesses (e.g. MS, Parkinson’s, coronary bypass surgery) make up most of the rest.
Don’t be swayed by policies that have a higher number of illnesses covered — definitions matter more than numbers.
A common rule of thumb is €30,000.
Why?
Cancer treatment alone can cost around €1,000/month, plus the lost income if you can’t work.
That adds up fast.
If your budget allows, €50,000+ gives better breathing room.
Bundling Serious Illness Cover with your Life Insurance keeps it affordable.
Example: A 40-year-old adding €30k Serious Illness Cover to a €250k Life Insurance policy might only pay ~€20/month extra (about €5 a week).
Read: Accelerated or Standalone?
One of our younger clients was diagnosed with prostate cancer. His insurer paid out €45,000 under his mortgage protection policy, which cleared half his mortgage.
That payout gave him financial breathing space while he focused on recovery.
If you bundle Serious Illness Cover with your mortgage protection policy, the payout goes straight to the bank, not to you.
If you want cash in your pocket when you’re sick, keep it separate.
Nick’s Take: Zurich tends to offer the best balance of definitions, benefits and cost. But the right choice depends on your health and budget — we’ll guide you through it.
Income Protection pays a monthly income until you recover or retire. Serious Illness Cover is cheaper, but only pays once for specific illnesses.
If budget allows, IP is the stronger option — but Serious Illness is a good plan B.
What’s the difference between Serious Illness and Critical Illness? None — just different names.
How do I make a claim? Notify the insurer, complete the claim form, and provide medical evidence. If your illness matches the policy definition, the payout is made.
Do insurers actually pay? Yes — if you’re truthful on the form and the illness is covered, claims are usually straightforward.
How much cover do most people take? Between €30k and €50k.
Serious Illness Cover – The Ultimate Guide 2025
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I know what you’re thinking: why trust this guy? He’s just another broker out to make a quick buck on other people’s misfortune.
Harsh!
Scroll down to read some of my testimonials from my lovely clients. You won’t find a single bad one – and there’s a reason for that – bribery I mean, GREAT CUSTOMER SERVICE
I believe in plain English and in avoiding the makey-uppy terms insurers and banks use to bamboozle you. After all: if you can’t understand what they’re saying, how are you meant to get the best deal?
For example, did you know that you should NEVER bundle Serious Illness Cover and Mortgage Protection because the bank get the pay-out if you get a serious life-threatening or chronic illness.
That’s cheeky – and it’s also not something the banks are in a rush to disclose.
I’ll lay it all for you in plain English and I’ll give you independent, unbiased advice so you can get the right deal for you. I can’t wait to speak with you and to make life insurance a little less drab and a little more fun.
Nick McGowan
lion.ie | making life insurance easier
