When considering the concept of taking out Critical Illness cover – it’s all about individual risk perception –ask yourself the following:
Who will pay my mortgage if im unable to work?
Would I be able to support my current lifestyle if im unable to work?
If you can’t answer these questions with a solid scenario or solution that’s what Critical Illness Cover can assist with. You may even have to pay for medical care and adapt your house to make your day-to-day life easier. A critical illness plan could help you do this.
What Is Critical Illness Cover?
Generally run alongside a life insurance policy, critical illness policies cover an individual for a set period against a number of serious illnesses, diseases and medical conditions. It pays out a single tax-free lump sum on the diagnosis of one of the illnesses specified in the policy details. Diagnosis alone of one of the specified illnesses is sufficient to trigger payment. There is no requirement for loss of earnings or even for special medical treatment. Each critical insurance provider has their own definitions of illness. Pre-existing conditions may be excluded.
We have access to a limited panel of critical illness cover companies, which include some of the biggest name in the protection industry.
It’s a complex product that needs care and attention to ensure the right product is selected – we aim to tailor each policy to meet each individuals circumstances