Critical Illness Cover is used to insure yourself against a variety of critical illnesses or conditions covered by your policy. This policy normally payout a lump sum if the insured persons suffers a specified illness or conditions. The kinds of illnesses or conditions that are covered are usually long-term and very serious conditions such as a heart attack or stroke, loss of arms or legs, or diseases like cancer, multiple sclerosis or Parkinson’s disease. Some forms of Cancer, Heart attack and Stroke are not covered by critical illness policies. The payout can be spent the way you wish i.e. pay off the mortgage or personal debt, pay for treatment or modify home or vehicle etc.
Critical Illness cover can be arranged as standalone or combined with life cover.
Types of Critical Illness Cover
- Level Term Assurance – the amount you insure yourself for will not change over time, this type of policy is normally used to protect your family or cover an interest only mortgage.
- Increasing Term Assurance – the cover increases every year without the need for a medical. This type of policy is ideal for people who need additional cover in line with increases in their income and inflation.
- Decreasing Term Assurance – the payout reduces over the cover period at a flat fixed rate each year. This type of policy is ideal for protecting a capital repayment mortgage as this is cheaper than a Level Term Assurance.
- Family Income Benefit – this type of cover provides a tax-free income to your family until the end of the term.
Why choose us?
- We will review your existing policy free of cost
- We offer Critical Illness insurance from a range of insurers
- Impartial advice from professionally qualified advisers
- We will help you understand the definitions used in different Critical Illness policies
- We will place your policy in suitable TRUST for free!!