Critical Illness Cover

Quite often you hear ‘it could never happen to me’ or ‘I’ll sort it out later’. Well the old maxim of “failing to plan is planning to fail” is no better suited to the ignoring of crucial decisions on protection.

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What is it?

A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. It is often ‘bolted on’ to a life assurance policy as an additional benefit but can also be a standalone plan.


Who is it for?

This type of plan is designed for those individuals or families whom want a lump sum if they are diagnosed with a serious illness. As an example of where this lump sum could be used is to repay a loan, mortgage, or perhaps pay for time off work. The lump sum could even be used to pay for any necessary alterations to your home.

The quality of cover and the illnesses covered can vary significantly between different providers. As Independent Financial Advisors we can help you find the plan that best meets your requirements.


Lump sum or monthly benefit?

Unless your specific requirement is for a lump sum, i.e. to repay your mortgage or other debt, you may want to consider 'Family Income Benefit'.  This can be a more cost effective way of protecting yourself family and will mean they receive a monthly income for a guaranteed number of years if the unforseen were to happen. 


Please contact us to discuss this further

These plans have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.

Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document if you go ahead with a plan.

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The guidance provided within the website is subject to UK regulatory regime and therefore primarily targeted at consumers based in the UK.