Critical Illness

critical health insurance Nottingham

Critical Illness Assurance

Critical illness cover provides a tax free lump sum payment should the insured person be diagnosed with a specified critical illness, e.g. cancer, heart disease and many other serious illnesses. It can also be set up to provide a monthly income if you prefer, rather than a lump sum.

The term and sum to be insured are decided at the outset.
If a critical illness is diagnosed during the specified term then the sum insured is paid out.
If you have not suffered any serious illness at the end of the term then the plan ceases and nothing is paid out.
The plan can be set up on a single or joint life basis and can be added to either Level Term or mortgage life protection.

Critical illness cover can be either arranged on it’s own or attached to other forms of assurance, such as mortgage life cover or family protection cover. It can also be on a joint or single life basis.

If you are a single person you are very vulnerable in financial terms because contracting a critical illness could lead you into having low or no income for a long period of time. Just because you cannot work does not mean that the mortgage company or the loan people will not want paying they will! Critical illness cover could give you the money to pay off debts, buy in help or perhaps change your current situation. e.g. a house move, stair lifts or ramps or even be used to pay for medical treatment that would not otherwise be available.

Married couples can also benefit from this cover. If, for example, the main earner of the home contracted a critical illness and could not work, it would give the whole family financial problems. This type of cover could give you the money to pay off debts and provide for your financial needs.

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