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 systems that creates in-depth analysis to assist us in choosing the right 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.
For insurance business we offer products from a choice of insurers.