Critical illness protection
Life assurance you can live with
Medical Statistics show that four in every five persons will succumb to a serious illness rather than die suddenly. Every year in the UK three quarters of a million people or 30 every ten minutes suffer a heart attack, stroke or cancer. You are two and a half times more likely to suffer a critical illness before 60 than to die.
Fortunately today the chances of survival are good and improving all the time but survival could mean a complete change to your lifestyle. Recovery can be a slow and expensive process and you and your family may endure a greater burden than if you had died.
The big problem is not medical but financial. You may never work again or only part-time. Your may be forced to accept a less demanding and lower paid job. So how would you pay the bills let alone maintain your independence? You insure your car and your home.
It makes no sense at all to ignore your most valuable asset……….. you.
Fortunately you can protect yourself against the terrible hardships such events can cause. Critical illness cover can pay out on the diagnosis of certain specified serious illnesses or on the earlier of sudden death or critical illness. While it won’t ease the pain the tax free lump sum can be used for any purpose:
- Reduce or pay off your mortgage
- Invest to provide a replacement income
- Make alterations to your home necessitated by your illness
- Seek specialised medical treatment which might not otherwise be affordable
- Ensure that you don’t have to draw your retirement benefits prematurely resulting in a lower pension
- Having a lump sum to help you modify your lifestyle accordingly and preventing you and your family suffering the financial consequences is the most powerful benefit of critical illness cover.
Depending on your age and smoker status an outlay of £20-£30 a month could not only clear your mortgage but also partially replace your income.