Do I Need Critical Illness and Income Protection
Yes; Get both for significantly enhanced protection for you and your family
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Strengthen your safety net with income protection insurance & critical illness cover
If you’re concerned what would happen if you were too ill to work you’ve probably been trying to choose between critical illness cover and income protection insurance. The good news is you may not need to choose one. Buying both income protection insurance and critical insurance together provides you with a package of benefits if sickness or injury prevents you from working.
Income protection insurance will pay you a monthly benefit if you can’t work because you are ill, or have an accident, helping you to honour your regular financial commitments.
Critical illness cover on the other hand pays out a single lump sum if you are diagnosed with any of the illnesses or conditions listed in your policy. Examples of these include stroke, heart attack and cancer. Critical illness policies can also cover you if one of your children is taken ill.
The team at Go Protect Me will assess whether buying both income protection insurance and critical illness cover is the right decision for you.
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Why Talk To Go Protect Me?
We’re 5* rated brokers for life insurance and income protection insurance, and we’re committed to providing every customer policies they need. Here’s why you should use us.
Why do I need both income protection & critical illness cover?
Short-term & long-term support
Critical illness cover and income protection insurance will offer support over different periods. When you buy critical illness cover you have the reassurance of knowing that if you are diagnosed with a serious illness or health condition you will receive a lump sum. This can help with the sudden unexpected costs of sickness or disability. You could use this for paying of debts or adapting your home.
Income protection insurance gives you longer term cover, with monthly payments helping you meat with your regular financial commitments. If you opt for long-term income protection insurance, you will receive these payments until you are well enough to return to work.
Financial peace of mind
Falling ill can be costly, particularly if you must stop working. Income protection insurance replaces your monthly salary to reduce the risk of getting into debt. A lump sum payment from a critical illness policy will also give you a financial cushion.
Focus on recovery
Knowing that you and your family have financial protection in the event of sickness or injury takes away some of the stress of becoming ill and allows you to concentrate on getting better. A settlement from critical illness cover could also allow you to access additional private treatment to help you recover.
How much is income protection insurance & critical illness cover?
The cost of monthly premiums depends on several factors. These include:
Your Age
As young people tend to be healthier, the younger you are the lower your premiums will be.
Your Job
If you work in a higher risk occupation, for example a role that is physically dangerous or very stressful, your premiums could be higher to reflect this.
Your medical history
People with a history of ill health, or with a family history of some conditions, tend to have to pay more for critical illness cover and income protection insurance.
How much cover you want
The more a policy will pay out in the event of a claim, the more your premiums will be. When thinking about the level of cover you want, you should think about balancing how much you can afford to pay each month with how much you will need if the worst should happen.
Your lifestyle
Some lifestyle choices can make your premiums more costly. These include participating in extreme sports, smoking and drinking to excess.
Waiting period
With income protection insurance you can choose how long you wait before receiving your first monthly benefit. The longer you wait, the lower your premiums.
With so much to consider, it really pays to talk to Go Protect Me. We know what insurers consider when calculating how much your policies will cost, so we can find the most appropriate provider for you.
To Speak To An Expert, Call 0330 818 6850
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Alternatively request a call back at a time convenient to you.
Talk to experts
At Go Protect Me we specialise in sourcing competitive income protection and critical illness policies for our clients. We can find you policies that complement each other and offer you comprehensive cover.
Complimentary financial health check
All of our customers are offered a free financial review. Let one of our Client Relationship Managers look at your current finances and offer you advice to make the most of them. WE can give you advice on savings, investments and tax.