CRITICAL ILLNESS COVER GIVES YOU A CHOICE ON YOUR FUTURE SHOULD THE WORST HAPPEN

The worrying thing we face as a mortgage advisor is that our population can seem more willing to insure their home appliances than themselves, particularly given that we, as humans susceptible to disease, are arguably more likely to have downtime. To affirm this point, there are numerous critical illnesses that an insurance policy will cover, but let us look at one of the prominent critical illness causes – cancer.

FOR JUST CANCER ALONE THE RISK OF BEING DIAGNOSED WITH A CONDITION IS 1 IN 2, OR 50%

Sadly it is true, while difficult to accept the reality, the lifetime risk for UK individuals born after 1960 is 50%. 1 in 2 people will be diagnosed with some form of cancer during their lifetime. Females have the highest lifetime risk of breast, lung and bowel cancers. Males have the highest lifetime risk of prostate, lung and bowel cancers. You can view this information at the Cancer Research UK website (https://www.cancerresearchuk.org/health-professional/cancer-statistics/risk).

CRITICAL ILLNESS COVER CAN GIVE YOU THE BREATHING SPACE YOU NEED SHOULD THE WORST HAPPEN

Given that there are numerous critical illnesses beyond cancer, the negative side is that you and your family are likely to face an event of this nature during your lifetime. The positive side is that you can do something about it by incorporating a critical illness policy in to your financial planning. If you need to make a claim in the future, the pay-out you receive could give you the vital breathing-space you need to focus on your health, as opposed to worrying about the possibility of financial hardship.

WE CAN DESIGN A CRITICAL ILLNESS POLICY TO SUIT YOUR CIRCUMSTANCES AND BUDGET

A critical illness policy can take different forms. It can be a joint policy for you and your spouse to cover the outstanding balance on your mortgage, allowing you to eliminate your monthly mortgage expense on pay-out. It can also be linked to a life policy to create a broader solution under a single plan, with some policies insuring your children as an additional benefit. Policies can be set up to provide a lump sum, or a monthly income benefit to cover ongoing expenses. The features and options available within the critical illness market are numerous, making professional advice important.

IF WE’VE MADE THE CASE FOR CRITICAL ILLNESS COVER, WHY NOT CONSULT US WITHOUT RISK OR OBLIGATION

We hope, in this relatively short text, we have made a case for critical illness cover, and we invite you to contact us to see how we might design a solution for your needs and circumstances.

AS WITH ALL INSURANCE POLICIES, CONDITIONS AND EXCLUSIONS WILL APPLY