Critical illness cover is different from income protection insurance in that you do not receive a regular pay out should you suffer from an illness that causes you to lose your regular income.
Instead, critical illness insurance is paid out as a one-off payment, which is tax-free. This payment can be used to help you pay your living costs, keep up-to-date with your mortgage repayments and be part of the long-term plan to pay for any treatment and care that you may require over many years to come.
There are a number of conditions that are covered by critical illness insurance policies. This might differ from one insurer to another but whether you choose to use Central Mortgages to provide you with a link to critical illness cover or shop around there are seven core conditions that are usually covered. This includes cancer, coronary artery bypass, kidney failure, multiple sclerosis, major organ transplant, heart attack and stroke. You can also be covered by permanent disability that has been caused by a serious injury or illness.
Critical illness cover is perfect for those individuals who do not have enough savings to cover bills and living expenses in the event of becoming seriously ill or disabled, if you have no family or dependents who can assist you in the worst circumstances and/or your employer doesnbt offer any benefit packages that would assist you through long-term illness.
Central Mortgages can help you with critical illness cover. If you would like to find out your options, give us a call today and webll be happy to talk through your situation and find the best cover for your needs.
Comentarios