Critical Illness Cover
Critical Illness Cover
Diagnosis of a serious illness can lead to a very difficult time for your wealth, as well as your health. Critical illness cover can provide important financial security at a time when you need it most. Many people buy life insurance to repay a mortgage or to leave a financial cushion for their loved ones if they die. However, within a given timescale, you are more likely to suffer a critical illness than you are dying.
Lots of people first consider critical illness cover when taking out a mortgage. With this type of insurance, you have enough life and critical illness insurance to cover your mortgage debt, so your mortgage is paid off in full should you die or suffer one of the specified critical illness. If you have a repayment mortgage, you can have insurance that automatically decreases in line with your outstanding mortgage loan. This type of policy only pays out once for either death or critical illness. In this case, it may be worth considering separate policies.
We have access to CI EXPERT which is an independent organisation that creates in-depth analysis to assist us in choosing the best policy for you. It also allows us to advise and recommend on any existing policies you have if you are thinking of switching providers. We can get you advice on some of the benefits you may lose, and likewise gain, in the switchover.
Call us on 01908299371
Our mission at Newhouse Financial Services is to offer simple, straightforward & honest mortgage advice. We aim to make the whole process of applying for a Mortgage as easy and stress-free as possible. Whether you are a first-time buyer looking to get on the property ladder, a homeowner looking to save a few pounds on your current mortgage, or need a new life insurance policy to protect your growing family, we're here to help. Looking for a more specialist mortgage? We have expert mortgage advisors who specialise in Help to Buy, Limited company mortgages, bad credit mortgages and contractor mortgages.
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Because we play by the book we want to tell you that…
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.