insurance
critical illness insurance
Critical illness insurance will pay out a lump sum in the event of a claim if the policy holder suffers from a specific medical condition or injury covered by the terms and conditions of the policy. Once the policy has paid out, generally the policy will end. However, there are exceptions to this with certain UK providers, where additional payments can be made. Types of conditions that are covered as an example are certain types and stages of Cancer, Heart Attack, Stroke, and conditions such as a Permanent & Total Disability.
Children can also be added to critical illness policies, and whilst this is a thought that perhaps we would not want to think about. Most insurers receive a high volume of claims for children every year.
The level of cover can be the amount required to repay the mortgage, or maybe at a lesser amount such as your annual salary or 12 months household expenditure. The level of cover can also be adjusted to suit your budget and term of the policy required.
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insurance
life and critical illness cover
life and critical illness cover is advisable, especially if you are applying for a mortgage or have other financial commitments. Equally, if you are a sole mortgagee, critical illness could be considered as a higher priority than life assurance, this is because, you as an individual are solely responsible for repayment of the mortgage.
At MMPE we can offer our clients advice with regards to levels of cover required, the differing quality and benefits of individual insurers. There can be significant differences in medical conditions covered between one provider and another and we believe advice is essential.
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My Mortgage Experts & Protection Experts Ltd (FCA 937076), is an Appointed Representative of King Mortgages Ltd.
King Mortgages is authorised & regulated by the Financial Conduct Authority (FCA). King Mortgages Ltd is entered on the financial services register http://register.fca.org.uk/ under reference number 803561.
The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.