Critical illness cover

Critical illness cover

What would happen to you and your family if you were diagnosed with a life-threatening illness? Would they still be able to pay the mortgage, cover the bills, or pay for your healthcare? 

Critical illness cover is a form of insurance that provides financial protection in the event you are diagnosed with a serious illness or medical condition listed in your policy. This type of insurance offers a tax-free lump sum payment to help you and your family cope with the financial impact of a critical illness.

The lump sum can be used however you like - to cover medical expenses, make necessary adaptations to your home, replace lost income, repay your mortgage, make several mortgage/rent installments or simply provide peace of mind during a challenging time.

Taking out critical illness insurance could make all the difference, ensuring your family is financially secure. The types of illnesses/conditions covered differ from one insurer to another, however these typically include:

  • Cancer
  • Heart attack
  • Stroke
  • Multiple Sclerosis
  • Benign brain tumour

The specific illnesses covered can vary by policy and depending on the insurer there could be between 30 and 120 conditions covered under the critical illness policy. 

You can tailor your critical illness policy to suit your individual needs, including the amount of coverage, the duration of the policy, and any additional benefits you may require.

Peace of Mind
Critical illness cover can provide peace of mind to you and your loved ones, knowing that you have financial protection in place in the event of a serious health setback.

It's important to review your specific critical illness policy to understand the exact terms and conditions, as coverage can vary between providers. If you have questions about critical illness cover, or if you're interested in obtaining a policy that offers protection against unexpected health challenges, our team of experts can assist you in finding the right coverage to suit your needs and circumstances.

Why do I need critical illness cover?

Serious (critical) illnesses can happen at any time in our lives and often catch us by surprise. Taking out critical illness insurance can give you and your loved ones the peace of mind that financial support is there should you become seriously ill, ensuring:

  • Daily/monthly outgoings if you can no longer work due to being seriously ill or disabled, and any savings don’t cover it.
  • Cover for long-term illness if your employer doesn’t offer any benefits packages to provide sufficient care and financial support.
  • If state benefits aren’t sufficient, you have enough income to cover your outgoings.

It’s worth remembering that not every insurer provides the same level of cover, and it’s not always the best option to go for the cheapest plan. Decide what you want most out of your critical illness insurance, such as ensuring your children’s education is secure, and compare insurer’s plans. 

Cochno Financial Group Ltd, Registered Company Number: SC688947, Registered in Scotland, Registered Address: 2 Barra Road, Old Kilpatrick, G60 5HS.