Critical Illness Cover | Leicester
Critical Illness Cover is designed to support you financially if you’re diagnosed with one of the conditions listed on your policy. This payment is designed to help you pay for treatment, your mortgage/rent or any adaptations you may need to make to your home.
Which Illnesses are covered by Critical Illness policies?
Like any insurance policy, the terms and conditions change from one insurer/policy to the next, so be sure to check the list of illnesses covered. The more illnesses covered the more comprehensive the policy will be. The more comprehensive policies tend to include over 50 different conditions, whereas some policies will be more limited.
Examples of the type of critical illnesses that are likely to be covered:
stroke
heart attack
cancer (certain stages and types)
major organ transplant
Parkinson’s disease
Alzheimer’s disease
traumatic head injury
Most Critical Illness policies will also include permanent disabilities as a result of illness or injury.
As with all insurance policies, conditions and exclusions will apply.
Who should consider getting Critical Illness Cover?
If you and your family depend heavily on your income, it may be a good idea to consider this type of insurance. You may have some savings, but you’d be surprised how quickly they can diminish if you lose your ability to earn income.
Some employers will include an employee benefits package that will cover a longer time away from work due to sickness. However, this is rare in today’s market and the benefit package itself may not provide as much financial reassurance as a CIC policy.
How much cover do you need?
This type of insurance is usually taken alongside other types of insurance, such as income protection or Life Insurance. In most cases this policy is combined with a Life Insurance policy. The amount of cover you will need will depend on your individual circumstances and financial liabilities.
Most mortgage brokers will offer this form of protection in order to provide the most comprehensive service. As your financial liability increases, due to a new mortgage or increased borrowing, it’s essential that they highlight the risks imposed should you become sick or diagnosed with a critical illness.
Arrange Critical Illness Cover Appointment
At Mortgages by Anna, we promote a personal mortgage advice service that’s coupled with our protection offering. We have access to some of the UK’s largest insurers and most comprehensive policies.
If you would like to discuss your Critical Illness Cover options, simply get in touch with the team today on 0116 3262610 or complete the contact form below.
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