Serious illness - men / women
Men have a 1 in 4 chance of suffering from a serious illness before they reach retirement age. Women have a 1 in 5 chance of suffering from a serious illness before they get to the age of retirement. Critical Illness cover/ Serious illness Cover / Specified Illness Cover pays you a TAX-FREE lump sum if you are diagnosed with an illness covered on your particular plan.
Over 50 or Under 50??
One misconception people may have regarding these type of cover is that it’s just relevant to old people. This is certainly not the case as claims from individuals below 50 years (if we are to regard this as old nowadays!) will show that is not the case.
Serious Illness V Life Cover
Enough to worry about.
As any “serious illness” is a huge event in one's life to deal with, you do not want the added pressure of worrying about all the bills that keep coming in if / when this happens in your life. A lump sum payment will of course help take away the stress of worrying about how you will cope otherwise.
Cost of policy.
Bad news for smokers
Factors to be sure to consider
N.B There is NO tax relief on Serious Illness cover.
Bills still keep coming in.
Serious Illness cover / Income Protection
Read the fine print!
If you feel you have more questions you need answering, why not check out our Serious Illness FAQ'S or contact us today