Critical Illness Cover

Are you worried about what the future may hold for you?
Ask our experts to explain how insurance can help.

Introduction 

Critical Illness Cover is there to help you and your loved ones, if you suffer a critical Illness. It is an insurance plan that pays out a cash sum if you are diagnosed as suffering from a specified critical illness, within the term of the plan. The plan has no cash-in value at any time.

Why do I need Critical Illness Cover?

Should you be unfortunate enough to suffer a critical illness, the last thing you will want to be worrying about is money. Advances in medical science mean that the chances of surviving a critical illness are improving all the time. The cash sum you could receive from a critical illness plan could help you through the recovery period.

You may have to reduce your working hours, need to pay for medical care or have to adapt your house to make your day-to-day life easier. A critical illness plan could help all of this and more.

Critical illness cover is payable on the conclusive diagnosis of a pre specified critical illness. Some of the conditions covered in most benefits include (use these as a guide only):

Alzheimer's Disease

Angioplasty

Aorta Graft surgery

Benign Brain Tumour

Blindness

Cancer

Coma

Deafness

Heart Attack

HIV/AIDS

Kidney Failure

Loss Of Limbs

Loss of Speech

Motor Neurone

Multiple Sclerosis

Paralysis / Paraplegia

Parkinson's Disease

Stroke

Third Degree Burns

Permanent Disability

Critical illness cover will pay out a lump sum in much the same way as a life insurance policy. One big difference is that the main beneficiary may well be you in addition to any loved ones. Critical illness policies don’t cover every type of illness. You will need to check the insurance policy carefully to see what it will pay out if you become ill.

As with life insurance you can choose decreasing or level term policy.

Decreasing Term

  1. Designed specifically to protect a repayment mortgage.
  2. The cash lump sum payable covers the outstanding balance of the mortgage.
  3. The actual amount paid out reduces as the plan goes on, in line with your mortgage balance decreasing.

Level Term

  1. Designed to provide financial security for you and your loved ones.
  2. A set amount of cash is payable tax-free for the life of the plan.
  3. Can be used for living costs, covering mortgage, children’s education and more.

Increasing Term

  1. Designed specifically to avoid the cover being eroded by inflation.
  2. The amount of cash payable is tax-free for the life of the plan.
  3. You are given the option to increase your amount of cover each year at a pre-determined rate.

Still Not Sure?

We can help you by searching insurance products based on a fair and personal analysis for the most suitable cover for your circumstances.  Contact Us to find out more.

JUST SOME OF THE INSURERS WE WORK WITH

Registered Address

Shire Financial Services Ltd
Suite 3, Rookery House,
The Guineas, Newmarket
Suffolk CB8 8SY, England.

Registered Company No.

05904006
Country of Registration: England

Opening Hours

Mon-Fri: 9:30am to 5:30pm
Sat and Evenings: By Appointment
Sun: Closed

Social Media

SHIRE FINANCIAL SERVICES LIMITED IS AN APPOINTED REPRESENTATIVE OF SESAME LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

COMMERCIAL MORTGAGES, INCLUDING BUSINESS BUY TO LET, ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. FOR COMMERCIAL MORTGAGES WE ACT AS INTRODUCERS ONLY.

THE FCA DOES NOT REGULATE ESTATE AGENTS, SURVEYS AND SOME FORMS OF BUY TO LET MORTGAGES.

FOR ESTATE AGENTS AND SURVEYS, WE ACT AS INTRODUCERS ONLY.

THE FCA DOES NOT REGULATE CONVEYANCING and SOLICITORS SERVICES. WE ACT AS INTRODUCERS FOR CONVEYANCING and SOLICITORS SERVICES.

THE FCA DOES NOT REGULATE SOME FORMS OF TAX AND INHERITANCE TAX PLANNING. FOR TAX AND INHERITANCE TAX PLANNING WE ACT AS INTRODUCERS ONLY.

Pin It on Pinterest

Share This Page

Share this page with your friends!