Make sure you and your family are protected
Critical Illness Cover explained
As Independent Mortgage Brokers, we are not only mortgage specialists, but we can also access the whole market for your insurance protection needs too, including Critical Illness Cover, Life Insurance and Income Protection.
Many banks and building societies and estate agents are “tied” to one insurer, and therefore cannot compete with an Independent specialist like us on cost or benefits as they only offer one product. This is a complex area and, in our view, is sometimes a more important decision than the mortgage. Whereas a mortgage deal may only last two or three years, the right protection could last a lire time!
We therefore always offer a free face to face consultation with you. One of our experienced advisers will discuss your individual requirements to help us with our personal recommendations.
We have listed below a brief description about Critical Illness Cover. Please feel free to call us and we will arrange an appointment with you at home, or at our offices in Bristol, Bath or Exeter.
What is critical illness cover?
Critical illness insurance will pay out if you get one of a number of a specific medical conditions or injuries listed in the policy. But be aware that not all conditions are covered and policy will also state how serious the condition must be.
Most policies will also consider permanent disabilities as a result of injury or illness. A critical illness policy only pays out once and then the policy ends. Some policies will make a smaller payment for less severe conditions, or if one of your children has one of the specified conditions.
What is not covered?
Some serious illnesses might not be covered, for example, some cancers and conditions not listed in the policy. You probably won’t be covered for health problems you knew you had before you took out the insurance, and this type of insurance does not pay out if you die. What’s covered and what’s not, will be set out in the policy details so make sure you’re fully aware of them and that they cover your needs. We guide you through all the considerations to find the right policy to meet your needs.
Critical illness cover could be considered if:
- you do not have savings to tide you over if
become seriously ill or disabled
- you do not have an employee benefits package
to cover a longer time off work due to sickness
Who does not need it?
You might not need it if:
- you have enough savings to fall back on and
can adequately cover expenses such as bills, loans, medical costs or a
mortgage.
- you have a partner who can cover living costs
and any shared commitments, like a mortgage
- you might already have some cover included in other products or work benefits.
How much does it cost?
Your monthly payments will depend on a number of factors, including:
- age
- whether you smoke or have previously smoked
- health (your current health, your weight, your
family medical history)
- job (some occupations carry a higher risk than
others and may mean you have to pay more each month)
- the amount of cover you take out
Whether you are looking for advice on Critical Illness Cover, Life Insurance or any other protection we would be delighted to help . For more information or to book your FREE CONSULTATION please visit one of our websites or contact us
www.bristolmortgagesonline.com 0117 325 1511
www.bathmortgagesonline.com 01275 584 888
www.exetermortgagesonline.com 01392 690 888
email info@swmortgages.com
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