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Critical Illness Insurance pays out a lump sum if you are diagnosed with one of the conditions on the policy such as Cancer, Heart Attack or Stroke. Sometimes Insurers receive criticism for declining claims when someone is very ill but with an illness not covered on their policy but most major providers actually pay out over 90% of claims.
If claims are denied it can also be because the claimant did not disclose an underlying medical condition they have when they took the policy out.
In the event of a claim the lump sum is paid out irrespective of whether the claimant returns to work or not, the key thing is whether the illness they had matched the definition on their policy.
The claimant can use the lump sum they receive for any purpose they wish. Be this to repay their mortgage, pay for medical care or make modifications to their home.
Different insurers cover different illnesses on their policies and it’s wise to take advice prior to selecting a policy. This will ensure that you end up with one that is suitable for your needs. Critical Illness Insurance is much more expensive than life cover because the chances of you making a claim are far higher.
Your chances of surviving the types of conditions covered are far higher than they were 30 years ago. However, if you are unfortunate enough to contract one of them then there are often financial consequences. Hence the popularity of the cover, especially for applicants who have mortgages or children to think about.
You are more likely to claim on Critical Illness Cover than you would be with Life Insurance, so this can be more costly. Your protection and mortgage advisor in Nottingham will help you find the most favourable deal.
It’s very important to us that all of our customers are given an equal opportunity to take insurance our through ourselves. We wouldn’t be doing our job right if we didn’t mention it!
We offer all of our customers a free, no-obligation protection review where we’ll have a look at any existing policies you have in place and assess their suitability. We’ll then recommend which products, including critical illness and income protection that meet your needs. If required, we’ll then tailor the plan to match your available monthly budget.
What the claimant does with the lump sum, is entirely up to them. As a trusted mortgage broker in Nottingham, we see many use the money to repay their mortgage, pay for medical care or make any developments to their home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
Critical illness cover is an insurance policy that pays you a lump sum if you are diagnosed with a serious illness listed in the policy, such as cancer, heart attack, or stroke. The money can be used to cover medical expenses, replace lost income, or support your family during your recovery.
When you purchase a critical illness policy, you will pay regular premiums to the insurance company. If you are diagnosed with a covered critical illness during the policy term, you will be eligible to receive a lump sum payment from the insurance company.
It’s important to note that critical illness cover policies may have specific terms, exclusions, waiting periods, and payout conditions. It’s essential to carefully review the policy details and consult with the insurance provider to understand how the coverage works specifically.
Speaking with a protection specialist in Nottingham is important when considering critical illness cover because our team will provide expert guidance, customise recommendations based on your needs, compare policies from different providers, simplify the application process, and offer ongoing support throughout the policy’s duration.
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UK Money Man, Conor and the team were great and sourced us a mortgage that we were unsure we could get. Second time using UK Money Man and we would certainly use them again. Fantastic service
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Olivia
As a first-time buyer, I wasn’t really sure what to expect with getting a mortgage, but Matt at Nottingham Money Man was brilliant from start to finish and immediately put us at ease from the first phone call. He explained everything really...
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Karen
Smooth transition. Meetings on time. Lovely and really helpful staff who know what they’re doing and all for your best interest.
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These mortgage brokers are amazing, there quick responses made a stressful time feel like a breeze and answered any questions I had promptly and in detail. I could not recommend a better mortgage broker!
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Christian
Great service and independent advise one again and our 3rd remortgage with Nottinghammoneyman. Found us a great option once again and a mortgage offer recieved very quickly. Would strongly recommend to anyone.
3 months ago
Abigail
I've used these Mortgage Brokers since I purchased my first house. I have renewed my mortgage with them twice since, it's helpful that they send you a reminder to discuss options 6 months before the renewal. Conor Longthorn who helped me with...
3 months ago
Anonymous
The staff (Matt and Lewis) were really helpful at every stage and got me a mortgage without much hassle at all.
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Brilliant service from Paula Milner and Malcolm! If you have a particularly complex case as mine was this is the team whose hands you want to be in. Paula has the patience of a saint and handled the ups and downs of this process with empathy and...
4 months ago
Anna
Have dealt with this company for a few years now. Always seems hassle free and straight forward. Very good communication via email and phone appointments. Will continue to use and recommend 👍
4 months ago
Mr Christopher
Was very helpful and couldn’t thank enough
4 months ago
Dylan
Can’t thank Leo from Nottingham Money Man enough, with us every step of the way answering all the questions us as first time buyers had and helping with organising solicitors and lift insurance, can’t recommend this gent enough.
5 months ago
Tom
Charlie and Lizzi were always quick to respond whenever we got in touch and never failed to be helpful with all of our queries and requests.
5 months ago
James
This was my third mortgage with Nottinghammoneyman and they were excellent as always. There were lots of issues with the lender and they took the stress off by chasing them for me a lot.
7 months ago
Maggie
Both Dinah and Jo were great,friendly patient when answering my questions and throughly professional at all times. I am a first time buyer so knew nothing of the process involved. So thank you Dinah and Jo you couldn't have made it any easier for me
7 months ago
Emma
Malcolm was very patient, with me taking a long time to choose a property and with me being very indecisive. He support me through the whole thing and was always at the other end of the phone for any question or support!
7 months ago
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Listened, advised well and very efficient. Excellent
7 months ago
Anonymous
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8 months ago
Benjamin
All ways out standing all ways there to help and find a very good deal 5 star service every time
9 months ago
Callum
Fantastic communication from everyone. Helpful and supportive at every step, couldn't ask for more.
9 months ago
When you consult with a dedicated protection advisor in Nottingham, you can discuss the relevant insurances you may consider or receive recommendations tailored to your needs. A member of our team will gather initial information by discussing your health background with you.
We will build a tailored plan surrounding your current personal and financial circumstances, meeting your available monthly budget. Our team can search the market to find the most suitable insurance product, to protect you and your family.
Once we have found the appropriate product for you and you are happy to proceed, we will submit your application to the provider.
From time to time, the policy provider may come back to us for further information, before they will look at accepting the application.
If you have taken out your mortgage with us, we will contact you again when it’s time to remortgage. During this process, we will also review any existing policies you have in place.
We understand that circumstances can change, and the policies you initially took out when you started your mortgage may no longer be the most suitable fit for you at the time of remortgaging.
We provide expert mortgage advice in Nottingham, to all our customers are offered a free initial insurance review which involves speaking to one of our mortgage and protection insurance in Nottingham, who will assess your suitability as well as look into existing policies in place. Remember, insurance could be very beneficial for your future.
Our qualified mortgage and protection advisors in Nottingham, provide a tailored service that can help you find the most suitable cover for you and your circumstances. Furthermore, we understand that affordability is key, which is why we find the type of cover that is fitting for your family’s priorities and budget.
Take a look at our fantastic reviews by heading over to our reviews page. You may find that someone has been in a similar situation to you before and we have been able to help.
To see how our service has positively impacted others, visit our reviews page. There, you may find individuals who have encountered circumstances similar to yours and have benefited from our service.
Critical illness cover and life insurance serve different purposes. Critical illness cover provides a lump sum payout if you’re diagnosed with a severe illness, while life insurance pays out only upon death.
Critical illness cover helps with medical expenses and treatments, replaces income if you’re unable to work, and offers flexibility in choosing coverage amounts and specific illnesses to be covered.
Life insurance primarily focuses on providing a death benefit. Deciding whether to have critical illness cover alongside life insurance depends on your personal circumstances and financial goals.
Consulting with a mortgage and protection advisor in Nottingham can help you make an informed choice.
Joint critical illness cover is an option that is there for if you or your partner gets critically ill, providing you with the funds you need. The one drawback for this is that it will pay in full, even if only one of you gets seriously ill.
If you have any of the conditions listed in the policy, you will be paid a lump sum of critical illness coverage. This is done to support you and your family, while income protection is paid in the form of ongoing income. This is useful in the event of being unable to work and has the option to be paid to retirement age.
Unlike critical illness cover, income protection will be guaranteed to pay out if you are unable to work. This will be carried on until you are able to work again or pass away.
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Nottinghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Nottinghammoneyman 2025.
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Nottinghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Nottinghammoneyman 2025.
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