CRITICAL ILLNESS COVER
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Critical illness cover pays out a one-off, cash lump sum if you are diagnosed with a serious illness. The money can help to cover living expenses if you are unable to work, meet the costs of any adjustments or adaptations to your home, or simply take the worry away, leaving you to concentrate on getting better.
Setting up cover is simple and straight forward – you decide how long you want the cover to last and how much you want it to pay out. In the event that you are diagnosed with one of the conditions listed in your policy, you will receive the payout in a tax-free lump sum.
CRITICAL ILLNESS COVER FAQS
What illnesses are covered with critical illness cover?
This varies depending on the provider, but in general, the conditions and illnesses covered include:
- Some types of cancers
- Heart attacks
- Strokes
- Brain tumours
- Parkinson’s disease
- Disabilities such as blindness, deafness or loss of limbs
Our advisers will be able to discuss the conditions covered in more detail and a full list will be included in your policy documents.
What affects the cost of my critical illness cover?
The cost of your critical illness policy is comprised and affected by several things, such as:
- Type of policy (Single or joint application)
- Age
- Occupation
- Medical and health history
- Lifestyle
- Level of cover
What’s the difference between critical illness and life insurance?
Life insurance pays out in the event of your death, or, where it includes terminal illness cover, when you are diagnosed with a terminal illness and have 12 months or less to live.
Critical illness pays out when you are diagnosed with a serious condition or illness as listed in your policy. The illness or condition does not have to be terminal.
Critical illness cover can complement a life insurance policy, giving you more complete protection overall and greater peace of mind.
A&A Independent Financial Services Ltd (FCA number 950425) registered Office: 2 Acorn Grove, Kingswood, Tadworth, Surrey, KT20 6QT
The actual APRC you are eligible for depends on individual circumstances. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the amount you repay.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
The Financial Ombudsman Service (FOS) is an agency for arbitrating of unresolved complaints between regulated firms and their clients. Further details of the FOS can be found on its website: www.financial-ombudsman.org.uk
