Life & critical illnessProtection
Life and Critical Illness Protection
“I will sort this out later”
“I can’t afford it”
“I don’t believe in protection”
We have all either said this ourselves or heard someone say this before. Well the old maxim of “failing to plan is planning to fail” is no better suited to the ignoring of crucial decisions on life protection.
Some interesting facts:
• Over 1650 people die every day in Great Britain (National Statistics online)
• Every week 6200 people are killed or injured in road traffic accidents (Office for National Statistics)
• 1 in 4 men now aged 20 will not live to 65 (Swiss re 2001)
Life assurance is used to protect your family from the financial implications of a personal tragedy and can be particularly important if you have young children or dependents. It can be used to cover a mortgage, other loans or to ensure that your family is protected from the effects of having to repay a debt after the main breadwinner has passed away.
Finding the right type of life cover can be time consuming and tedious. With so many different policies available, sometimes people opt for polices which seem advantageous due to cost but in practice, are totally wrong for you.
As independent advisors we can ensure we assess your individual requirements thoroughly before recommending a well suited policy for you. Contact us today to discuss.
Did you know…
• There are around 293,600 new cases of cancer diagnosed each year in the UK and there are more than 200 types of cancer.
• More than 30,000 people have heart surgery in the United Kingdom each year. The national survival rate for all types of heart operation is 96.6%.
• Source Care Quality Commission 2007 As many as 100,000 people in the UK are estimated to have multiple sclerosis.
• It is the most common condition of the central nervous system affecting people between the age of 20 and 40.
When health conditions impact on our ability to earn a living, this can have serious implications on the standard of living for both you and your family.
So what is critical illness?
A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. It is often ‘bolted on’ to a life assurance policy as an additional benefit but can also be a standalone plan.
Who is it critical illness for?
This type of plan is designed for those individuals or families who want a lump sum if they are diagnosed with a serious illness. As an example of where this lump sum could be used is to repay a loan, mortgage, or perhaps pay for time off work. The lump sum could even be used to pay for any necessary alterations to your home.
The quality of cover and the illnesses covered can vary significantly between different providers which is why it is very important you contact us to discuss how we can help you find the plan that best meets your requirements.
Latest from the blog
When applying for a loan, it is easy to assume ...
When fixed rates hit an all-time low, it’s no wonder ...
1. How much can I borrow? Before making an offer or ...
Two year or five year fixed rate: what is the ...
Another decision you will be faced with when taking out ...
Buying a home is considered one of the most important ...