What is critical illness cover?
Critical illness cover pays out a tax-free lump sum of money if you receive a critical illness diagnosis.
When the unexpected happens, it has the potential to affect your finances. Especially if the person diagnosed with a serious illness is the main household earner. Critical illness cover is designed to protect you and your loved ones should the worst happen.
Do I need critical illness cover?
Critical illness cover provides a financial safety net, ensuring you and your family won’t face financial hardship when times are tough. The last thing you want is money worries on top of a challenging life event.
Do you need critical illness cover? Well, think about the following:
- What would happen to your income if you were diagnosed with a critical illness?
- Does your employer offer sick pay and if so, how long for?
- Do you have any savings to fall back on if you take time off work?
- What if you couldn’t work again?
With critical illness cover, you’re covered if you develop a condition listed on your policy. The money you get can make all the difference. It’ll help to reduce money woes and give you space and time to focus on treatment and recovery.
Our critical illness cover advisers at Mortgage Synergy
There are lots of options to consider, which is why seeking advice from our advisers is a no-brainer. Our expertise in this type of insurance rewards us with the knowledge to recommend a policy that best suits your needs.
Did you know?
You can buy a combined life insurance and critical illness policy. This covers death, terminal illness, critical illness and permanent disability in one.
When buying critical illness cover, it’s important to be aware of how many critical illnesses your policy covers and to what extent.
We know insurance jargon is often complex and confusing, so we’ll ensure you understand your policy and what you are and aren’t covered for. The last thing we want is for you to receive a critical illness diagnosis to discover it isn’t covered on your policy.
At Mortgage Synergy, we can compare all the insurers available on the UK market on your behalf. Our wealth of knowledge puts us in a great position to find you the right cover for the best price.
On a budget? We’ll find you an affordable policy
It’s well known that critical illness cover can be costly. Don’t let this deter you from buying a policy, though. Our critical illness cover advisers will work within your budget. We believe protecting yourself and your loved ones should never cost an arm and a leg.
Setting up a policy with one of our friendly advisers has never been easier. We’ll take into account your unique situation and offer recommendations off the back of this. Whether you’ve got a budget, want to cover total and permanent disability, or add children to a policy, we’ve got you.
FAQs
It depends on the insurer and when you submitted a claim. For example, it can take longer if the insurer hasn’t received medical evidence of your condition. Most insurers aim to pay out within 4 to 6 weeks if your claim is successful.
The cost of critical illness cover depends on a variety of factors, including:
- Your age
- Your medical history
- The level of cover you choose
- The terms of your policy.
Every person is different, so the cost of a policy is unique to the individual. If you’re worried about the costs, come talk to us. Our critical illness cover advisers understand these policies better than most and can offer advice.