13.07.2021

Critical Illness Insurance - What is it and Who needs it?

Critical Illness Insurance - What is it and Who…

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Critical illness cover supports you financially if you’re diagnosed with one of the conditions included in the policy.

The tax-free, one-off payment helps pay for your treatment, mortgage, rent or changes to your home, such as wheelchair access, should you need it

When do you need it?

  • If you’re unable to work due to a serious illness, you might assume that your employer will continue to give you some level of income, or that you’ll be able to rely on benefit payments.
  • In reality, however, employees are usually moved onto Statutory Sick Pay within six months. State benefits might not be enough to replace your income if you’re no longer able to work.
  • If you qualify, Employment and Support Allowance ranges from £74.70 a week to a maximum of £113.55 a week (2021/22 figures).

Consider getting critical illness cover if:

  • You and your family depend heavily on your income
  • You don’t have enough savings to tide you over if you become seriously ill or disabled
  • You don’t have an employee benefits package to cover a longer time off work due to sickness.
  • criticial illness
  • Critical illness cover
  • Family and Children
  • Critical Illness Insurance
  • Protection

I am an Independent Financial and Mortgage Adviser and have worked in Financial Services for over 12 years. During my career I gained experience in assisting both individual and corporate clients.…

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