Critical Illness Insurance is used in a lump sum when a critical health incident such as a heart attack, stroke, or being diagnosed with a certain form of cancer has happened to you. Having this policy in place provides a financial blanket in case you become ill from any of the illnesses stated in the policy you have taken out. Make sure to read from top to bottom all documentation, as not all illnesses are covered, you’ll have more information on this in your policy.
If you fail to disclose any health conditions during the application stage, your claim will be denied. This does not apply to conditions you were unaware of or were not present at the time of application. The lump-sum is paid out providing the condition is mentioned in the policy. This applies even if they have or can return to work.
It’s entirely up to the claimant what to do with the lump sum. Most choose to use the money to repay their mortgage, pay for medical care or make any developments to their property. If you are looking for Protection Advice in Nottingham, we always suggest you speak with a qualified Protection Specialist in Nottingham before taking out any type of cover.
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 Specialist will help you find the most suitable deal. There is a higher chance of you surviving the types of conditions covered than it was 30 years ago. If you do unfortunately become ill with any of the conditions, this can create financial hardship, especially if you have a mortgage, children, or any large credit commitments.
Our Protection Advisor in Nottingham has an understanding that each person’s lifestyles are different from one another. However, this doesn’t mean that unforeseen circumstances won’t occur, leaving you in need of financial support.
Critical Illness Cover can help you cover your finances in these situations. It is common for employers to provide sick pay to their employees. However, this doesn’t last as long as it’s offered for a short period.
If you get critically ill, you are more likely to survive and recover. As mentioned, the lump sum can be used for anything. Some people use it to fund recovery, pay bills and relieve general financial stress.
Joint critical illness cover can be an option, in case you or your partner gets critically ill, it will help provide you with the funds you need. The only drawback for this is that it will pay out in full, even if only one of you gets critically ill.
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 if you sadly pass.
Our qualified Protection Advisors in Nottingham will 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.
All our customers are offered a free, no-obligation protection review which involves speaking to one of our Insurance Advisors 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.
If you are looking to take out a menu plan (one or more insurances at once) we can also help with that! All you have to do is get in touch with our Mortgage Broker in Nottingham and speak with our team and we can run through some quotes with you.
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Absolutely amazing from start to finish. So helpful, every step of the way we was informed of what was happening. Cannot thank them enough.
Very pleased with the service. Chris and the Team have helped me through the mortgage process, making it as easy as possible. They have also managed to find an excellent mortgage deal.
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Excellent service the help and support provided throughout the process was second to none. I would highly recommend this company for any of the services they provide. Dan Osman in particular was so supportive and invested in my family he was such...
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The Nottingham Money Man group have been fantastic in helping me to navigate the complicated waters of house buying and obtaining a mortgage and the relevant other insurances etc you need with this. They have taken their time to explain things...
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Would and will be recommending this company. They (Conner) provided an extremely professional and efficient service in switching over our mortgage to a better interest rate. Always very contactable which quite frankly is something in this day and...
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first time I’ve used U.K. money man and I would like to say big thank you to Chris and Stacey who were helping us with our mortgage and made whole process smooth and easy for us from beginning to the end.Thank you 🙏
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