Critical Illness Insurance
Critical Illness Insurance provides you with compensation if you are diagnosed with any of the illnesses covered by the insurance.
You can apply for Critical Illness Insurance if you are between the ages of 18 and 59 and the insurance is valid until the age of 70. You decide the insurance amount and in the event of illness, it will be paid out in one lump sum. The Critical Illness Insurance payout is tax-free and tied to inflation.
Children are automatically covered under their parents' Critical Illness Insurance from the age of 3 months to the age of 18 years. The amount of compensation for each child is 50% of the parents' insurance amount, up to a maximum of ISK 12,350,000. If you have a child during the insurance period, you can increase the amount of your Critical Illness Insurance by up to 25% or a maximum of ISK 5 million without having to undergo a special health assessment.
The Critical Illness Insurance covers the following illnesses and accidents:
- Category 1: Cancer and benign tumors
- Category2: Cardiovascular and kidney diseases
- Category 3. Nervous and degenerative diseases
- Category 4: Blindness, deafness, loss of speech and related events
- Category 5: Other insurance events
The insurance amount is only paid out once for each category. If you are diagnosed with an illness and receive a payout under the Critical Illness Insurance, you can request that the insurance be renewed within three months of the payout, on the condition that the category in respect of which the insurance was paid out will be excluded.
Why choose VIS?
- The VIS Critical Illness Insurance pays compensation for five categories of illnesses and accidents.
- We are the only insurance company in Iceland that pays compensation in the early stages of cancer, up to a maximum of 20% of the insurance amount.
- If you receive compensation under the Critical Illness Insurance, you are entitled to two free appointments with a psychologist.
- Children are insured from the age of 3 months to the age of 18 for 50% of the insurance amount up to a maximum of ISK 12,350,000.
- If you have a child during the insurance period, you can increase the amount of your Critical Illness Insurance by up to 25% or a maximum of ISK 5 million without undergoing a special health assessment.
Critical Illness Insurance covers the following diseases
Cancer and benign tumors
- Invasive cancer
- Pre-invasive stage
- Benign brain tumor
- Benign spinal tumor
- Bone marrow transplantation
Cardiovascular and kidney diseases
- Myocardial infarction
- Coronary artery bypass graft surgery
- Heart valve surgery
- Surgery of the aorta
- Renal failure
- Heart or kidney transplantation
Nervous and degenerative diseases
- Multiple Sclerosis (MS)
- Motor Neurone Disease (MND)
- Alzheimer's disease
- Parkinson's disease
Vision loss, deafness, loss of speech and related events
- Profound vision loss
- Loss of speech
- Bacterial meningitis
- Major head trauma
Other insurance events
- HIV / AIDS
- Third-degree burns
- Loss of limbs
- Paralysis of limbs
Please note that the above list is not exhaustive. Further information can be found in the insurance terms.
In case of discrepancy between this list and the insurance terms, the insurance terms applies.
Do You Need More Coverage?
Life Insurance ensures that those who rely on you will be taken care of. The insurance amount is paid out if you die during the insurance period. It does not matter if the cause is an accident or an illness.
Accident Insurance protects you if you suffer broken teeth and permanent medical disability following an accident. The insurance is valid anywhere in the world and covers both accidents at and outside of work.
Sickness Insurance provides you with benefits if you are diagnosed with a disease that leads to permanent medical disability or temporary loss of work capacity.
Child Insurance protects parents or guardians against loss of income and unforeseen costs due to a serious accident or serious illness of a child.
The insurance terms is your contract with VIS. It is important to thoroughly read the terms and understand what is covered and what is not, before purchasing the insurance.
If you have Life and Health Insurance
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