Critical Illness Cover

What is critical illness cover?

Not every serious condition results in an untimely death; sometimes you can develop a critical illness that stops you being able to work or live the same lifestyle. Critical illness insurance pays out a lump sum if you are diagnosed with a qualifying medical condition. The types of conditions covered can differ under different critical illness cover suppliers; research is paramount and you should seek critical illness cover advice.

Who may require critical illness cover?

There are many different reasons you may be considering critical illness over. Each reason is personal to you and seeking critical illness cover advice will help find the policy that covers you for what you need.

Lost earnings

Everyone has different requirements with regards to how much critical illness cover they need, and what they need it to pay for. If you are the sole or main earner in your household, then you can’t afford to be out of work. Critical illness insurance can pay off your mortgage, help cover medical and travel costs, and pay off outstanding debts. Speak to a specialist for critical illness cover advice; they will work out your financial commitments to ensure you receive the right amount of cover.

Home renovations

After suffering a life changing medical event, you may not be able to do the same things you did in the same way. Everyday interactions may become more difficult and take away some of your independence. The critical illness insurance pay-out can be used to change your home to cater to your needs. You could add a downstairs bathroom, or a stair lift to help you get around your house.

Why should you seek critical illness cover advice?

The price of critical illness cover can vary from person to person; the criteria for each provider could offer you different cover at different prices. They will take into consideration your health at the point of application.

Age

The age at which you take out your critical illness insurance will have an effect on the premium you pay each month. The older you are; the shorter amount of time you will hold the policy; the likelihood of you claiming increases.

Smoker

Critical illness insurance companies like their customers to be as healthy as possible. Smoking will increase the likelihood of serious illness and therefore increases your premiums.

BMI

As a rough calculation of a person’s lifestyle, your body mass index can outline if you are more at risk of diseases such as strokes, heart attacks and certain types of cancers.

Career and industry

Higher risk professions and industries can increase the premiums of critical illness cover. Construction and the oil and gas industry may require a more specialised type of critical illness cover.

How can A&M Partnership help with your critical illness cover advice needs?

With any major financial decisions, you should always seek professional advice. A&M Partnership are specialists in all things regarding mortgages and critical illness cover can have a lot of insurers to choose from. Critical illness cover can have some eligibility concerns so the critical illness cover advice you get can save you money in the long run. There are several critical illness insurance providers on the market and each one has differing criteria. Don’t delay; get in touch with our experts to get the right help to buy property advice today!

Disclaimer:
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayment on your mortgage.