What is critical illness cover?
Critical illness insurance policies pay out a tax-free lump sum if you are diagnosed with any of the critical illnesses listed in your policy. Insuring against critical illness helps to protect you and your family against the financial consequences of serious ill-health.
The kinds of illnesses covered include long-term illnesses such as cancer and multiple sclerosis and conditions such as heart attacks and strokes. Many people purchase critical illness cover with life insurance. This is something the experts at Go Protect Me can advise you about.
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Why Choose Go Protect Me?
The team at Go Protect Me understand what you need when you are looking for critical illness cover. We always strive to get you the best deal. Here are some of the reasons to use us.
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Is critical illness insurance worth it?
There are many reasons why buying critical illness cover is a good idea.
Peace of mind for you and your family
The financial strain of being diagnosed with a serious illness can be devastating for families. With critical health insurance you have that safety net of knowing that you will receive a lump sum to cover some of your essential expenses. This could be rent or mortgage payments, utility bills or other day-to-day living costs.
You could also use your payout to clear any debts you may have. Easing additional financial worries for you and your family.
Making life easier
Some medical conditions are easier to live with if you are able to adapt your home, but this comes at a cost. A lump sum from your critical cover could help you to make the changes you need to live with your condition.
Any money received from critical illness insurance could also be used to pay for private health treatment that wouldn’t normally be easily available on the NHS.
Protection for your children
Most policies will also cover any children under the age of 18. This cover is generally available at no extra cost.
How much will critical illness cover cost?
The cost of the monthly premiums for critical illness cover depend on a combination of factors.
How much cover you need
Before you take out critical illness cover you will need to determine how much cover you need. This may depend on how much your usual outgoings are or whether you have any debts that you would need to service. The higher the level of cover, the higher your premiums will be, so you should balance the cover level with how much you can afford to pay out each month.
Age
As you get older, the chances of you developing a serious illness increases. For this reason, premiums will be higher for older applicants.
Medical history
If you have a history of poor health, or a family history of some conditions, then premiums will tend to be higher.
Occupation
Some jobs are considered higher risk than others. This could be because they are physically dangerous or highly stressful. People in higher risk occupations will pay higher premiums.
Risky lifestyles
Regularly taking part in hazardous activities can push premiums up.
Smoking and alcohol consumption
As smoking and excess alcohol consumption can have adverse effects on your health, how much you drink and whether you smoke will influence the level of your premiums.
Number of conditions covered
Not all policies cover the same number, or type, of conditions. Premiums will vary according to how many conditions are covered.
Length of the policy
The longer the policy the higher the cost
Talking to Go Protect Me about critical illness cover will help you work out which is the best policy for you and your family. We can help you get the cover you need without breaking the bank.
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Expert advice centred on you
It’s important that you get tailored advice when thinking about critical health insurance. Everybody’s circumstances are different, and at Go Protect Me we understand that. That’s why we spend time understanding exactly what our clients need, and what they can afford.
Contact us today and start the journey to peace of mind.
Free financial health check
Get more from Go Protect Me with a free financial review. We offer every client the opportunity of letting a Client Relationship Manager can look at your current financial situation, They can then offer advice for everything from savings to tax reduction. There’s absolutely no obligation from you.