Critical Illness Cover

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 guaranteed 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):

  1. Alzheimer's Disease
  2. Angioplasty
  3. Aorta Graft surgery
  4. Benign Brain Tumour
  5. Blindness
  6. Cancer
  7. Coma
  8. Coronary Artery By-Pass
  9. Deafness
  10. Heart Attack
  11. Heart Valve Replacement
  12. HIV/AIDS (under certain circumstances)
  13. Kidney Failure
  14. Loss Of Limbs
  15. Loss of Speech
  16. Major Organ Transplant
  17. Motor Neurone Disease
  18. Multiple Sclerosis
  19. Paralysis/Paraplegia
  20. Parkinson's Disease
  21. Stroke
  22. Third Degree Burns
  23. Permanent Total 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.

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

Or


  • 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

Or


  • 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


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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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.