While planning for a worst-case scenario is not always the best way to navigate life, critical illness cover protects you should the worst happen.
What Is Critical Illness Cover?
Critical illness cover is a type of insurance that usually provides a tax-free lump sum payment if you're diagnosed with a serious illness. State benefits might not be enough to replace your income if you’re no longer able to work. Cover could include illnesses such as cancer, heart attack, stroke, or organ failure. It is usually a lump sum that is paid out, offering peace of mind during a challenging time.
Our planners at Brancaster work with a variety of providers, offering flexibility and customisation when it comes to critical illness policies, your needs, and circumstances. We work with you to assess your situation and recommend the policy we feel best suits your needs.
During an illness, financial concerns can place additional burdens on recovery, critical illness can be the safety net to support you through that time.
How Can Critical Illness Help Me?
Income replacement if you are unable to work.
Helping with mortgage or rent payments.
Covering additional private or experimental medical expenses.
Your Medical History
Some insurers will require a complete medical history for critical illness cover, make sure you provide this to them, as honestly as possible. Not disclosing something in your medical history may mean your claim is not accepted.
Some policies can cover up to 50 illnesses including cancer, heart attacks, major organ transplants and traumatic injuries. You can choose the level of critical illness cover that best fits your budget and requirements, as well as select additional options such as coverage for specific illnesses or additional benefits like partial payouts for less severe conditions.
How Can Brancaster Financial Planning Help with Critical Illness Cover?
Our financial planners will work with you to ascertain exactly what cover you’re looking for and how much financial support you would require if you were unable to work. They would then be able to broker a deal between you and the insurance companies to find the right level of support and cover for your needs.
Not sure where to start? Get in touch with one of the team today to see if you could benefit from critical illness cover or complete our financial health check form to see all the ways that we can help you manage your finances.