LIFE INSURANCE COVER ~ SERIOUS or CRITICAL ILLNESS INSURANCE

What is meant by Critical Illness & Serious Illness Insurance

A Critical illness or Serious Illness is a medical event which is regarded as life threatening but does not always have to be fatal. Thousands of people each year are diagnosed with a serious or critical illness and as a result of professional medical help they recover or can experience long term remission from their illness and medical condition.

Many medical conditions and serious illnesses while not immediately fatal can have a serious effect on your ability to earn a living and can often alter your life style.

This may include for example: - Alzheimer's Disease, Angioplasty, Aorta Graft Surgery, Aplastic Anaemia, Bacterial Meningitis, Benign Brain Tumour, Blindness, Cancer, Cardiomyopathy, Chronic Lung Disease, Coma, Coronary Artery Bypass Surgery, Creutzfeldt-Jakob Disease (CJD), Deafness, Degenerative Organic Brain Disease, Dementia, Heart Attack, Heart Valve Replacement, or Repair HIV/AIDS - Assault HIV/AIDS - Blood Transfusion HIV/AIDS - Occupation, Insulin Dependent Diabetes, Kidney Failure, Liver Failure, Loss of Independent Existence, Loss of Limbs, Loss of Speech, Major Head Trauma, Major Organ Transplant, Motor Neurone Disease, Multiple Sclerosis, Open Heart Surger,y Paralysis / Paraplegia, Parkinson's Disease, Progressive Supranuclear, Palsy, Respiratory Failure, Rheumatoid Arthritis, Stroke, Terminal Illness, Third Degree Burns.

Provided the insurer has had the medical condition professionally confirmed and the medical diagnosis analysed that a specific medical event has occurred or is in the process of developing and requires medical treatment the Insurer will be in a position to pay out the sum that was specified as the sum assured. Therefore the financial help is there immediately and unlike Life Insurance which requires the person to die before paying out this form of cover instead pays out whilst you are actually recovering and is Tax free.

There are a number of factors you need to consider when deciding on Critical or Serious Illness Insurance. How much money would you really need if you did become critically ill and for how long would you need the cover for? The cover provided could also be used to pay off the mortgage.

Different insurance Companies cover various illnesses and exclude others and apply certain conditions to their policies that need to be looked into thoroughly beforehand.

It is therefore important to talk this over with an Independent Financial Adviser who can assess your requirements and match them both in cost and cover terms with an appropriate cover provider.

Critical Illness or Serious illness Insurance premiums are calculated based on a number of factors including your gender, age, smoker status, height ~ weight, previous medical history and the amount and type of cover that you choose to have in place.

The Difference between Critical Illness Insurance and Income Protection Insurance

Critical Illness or Serious Illness Insurance provides a tax free lump sum of money upon diagnosis of a specified critical or serious illness. Not being directly related to your occupation does not provide cover should you be unable to work however should somebody suffer from for example a heart attack or becomes deaf, whilst this would more than likely have a huge impact on their life, it may not stop them from working therefore in this instance a Critical or Serious Illness Policy would pay out.

Income Protection Cover provides a tax free monthly benefit if you are unable to work due to an illness or disability. This is not confined to any specific illnesses and will pay out once you've been off work for a set amount of time and will continue to do so for a specified period.

To have the most comprehensive cover, it is recommend that people look into having a combination of Life Insurance as well as Critical Illness or Serious Illness Insurance and Income Protection Cover.

Like with all other forms of Insurance you cannot purchase it after the event has happened therefore it is something you have to have the need to see the value of in providing for yourself and for those that matter to you.

Please therefore just contact us either by phone on ~ 0845 642 0644 (Local Rate), use the quick Mortgage Finder ~ CALL BACK FORM or use the brief Mortgage Finder ~ ENQUIRY FORM, and then simply allow us to assist you with further information without any obligation whatsoever.

Whatever your mortgage or financial requirements Mortgage Finder can help provide information and assistance with different financial information for different financial needs nationwide throughout the UK.

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