Critical Illness Cover Insurance
When you ask Discount Mortgages for a quote on life insurance, why not also think about asking for a quote on critical illness cover insurance which could also be given at very little or no additional cost to you. This cover alongside your life insurance would pay you a lump sum if you are advised that you have a critical illness by your Doctor. Critical illness cover is normally only allowed along with life assurance cover, this is usually known as life and critical illness cover.
If you are unfortunately told that you have a critical illness and your cover pays out you may wish to use the money to help with medical bills, living expenses etc and the payout from your insurance cover is also be tax free. Critical illness may be classed as heart attacks and kidney problems, cancer, strokes etc. The exact definition will be illustrated to you prior to cover being taken out.
Critical illness cover is different from Income protection insurance. This is when you have not been able to work for a set length of time, typically about six months and it will pay out a fixed monthly amount.
Which Critical Illness Cover Insurance?
When you have received your critical illness quote from Discount Mortgages and have asked about critical illness cover, you will notice there are different kinds of critical illness and different policies which cover different illness’s. Although all policies cover heart attacks, cancers and strokes you have to make sure that you get a quote for the cover that will address all your individual needs and specific requirements. You should to speak to an independent adviser before going ahead with the cover to ensure you get the cover you need.
Critical Illness Cover Insurance For Your Family
If you have a family, critical illness cover insurance is good to take out along side life insurance. If you are a single person you may wish to use the funds to pay off your mortgage so your estate has more value to your beneficiaries .