CRITICAL ILLNESS

A Critical Illness plan is designed to pay out a lump sum should the life insured be diagnosed with a critical illness during the term of the policy.

Critical Illnesses typically covered include: -
Heart Attack; Cancer; Stroke; Coronary Artery by-pass; Angioplasty; Alzheimer’s; Multiple Sclerosis; Motor Neurone Disease; Kidney failure; Loss of Limbs, Speech, Hearing, Sight. This list is not exhaustive and each provider will cover different conditions. It is therefore essential to ensure the policy you choose fully meets your requirements.
Please contact us to discuss your requirements, for a no obligation illustration or simply to review any existing cover you may have.

Income Protection
If illness strikes during your working life, the effects can be devastating if there is no protection in place. Income Protection insurance is designed to provide a continuation in the event of long term illness. Typically these policies provide for up to 75% of your pre disability income payable after a waiting period, which could be as little as 4 weeks but up to 104  weeks. Underwriting is based on your age, state of health, income and occupation. Most suited to self employed or employees whose employer provides none or little assistance in the event of long term ill health.

Life Insurance
Protecting your dependants in the event of your untimely death is essential if they are to continue to enjoy a reasonable standard of living after your death. It can run for the whole of your life or a specific period.
Cover can be level, increasing or decreasing when used for Mortgage Protection depending on the structure of the mortgage.
Where families have young children Family Income Benefit provides a payment each month for the dependants for a specific period of time. This can be used to pay for child care or any other purpose to ease the burden if a parent dies while children are young.

Term Assurance pays a lump sum if the life insured dies during the policy term. The Family Income Benefit policy above can also be commuted to pay a lump sum. Premium rates have fallen and you could be paying more than you need to. Contact us for a comparative illustration.

Whole of Life cover provides a lump sum on the death of the life assured. This cover is generally used with Inheritance Tax Planning to provide a lump sum payment on the death of the life/lives assured. Written in trust, it enables the trustees to pay any IHT due immediately.
Contact us to discuss your requirements and with assistance to calculate how much cover you should have and for a no obligation illustration.

All illustrations provided are from the whole of the market.