Life & Critical Illness

Life Cover

This helps ensure your dependents have enough money to repay the mortgage in full if you were to die. There are various different types of life cover to meet different circumstances and budgets.

Additional cover should be considered so that partners could continue to cover bills and other expenses should the worst happen.

Cover can for example be arranged on a ‘level’ or ‘decreasing’ basis. It can also be arranged so the cover ‘indexes’ or goes up each year to allow it retain the same buying power.

Life Assurance policies often also include ‘terminal illness’ cover. This means that the policy would pay out earlier if your are diagnosed with a terminal illness.

Critical Illness

Have a think about this…

If you were diagnosed with a critical illness tomorrow, what impact would that have on you, your home, your finances and your family?

What would your priorities be? Of course your first priority would be surviving the critical illness and recovering.

But what about paying the monthly bills? These won’t stop even if you’re critically ill!

You’d want to concentrate on getting better and not have to worry about the next bill arriving. If you couldn’t afford these bills, would you be able to move back home with your parents? Could they pay for your bills whilst you recover? If not, would you lose your home?

How can Critical Illness Cover help?

Having Critical Illness Cover in place can help make dealing with these potential consequences a lot easier. It can help give you the added peace of mind that if you were diagnosed with a specified critical illness during the length of the policy, it could pay out a tax free lump sum or monthly benefit (depending on the plan you choose). This could be used to help towards paying your bills and other expenses, leaving you to concentrate on getting better.

Just some of the illnesses that are covered include:

  • Cancer
  • Heart Attack
  • Stroke
  • Multiple sclerosis
  • Paralysis
  • Loss of Hands or Feet
  • Third Degree Burns
  • Loss of Sight/Hearing/Speech
  • Brain Tumour
  • Coma
  • Kidney Failure
  • Liver Failure
  • and many more…we will be happy to advise you about these.

It is important for you to carefully consider this type of cover given that the average age of a claimant is currently in the early to mid 40’s and the longer it is left before taking cover then the far more expensive it becomes.

Cover can be arranged whether or not you have a mortgage, for instance you may want to take some cover out purely to provide your family with some protection should the worst happen to you.

Please don’t forget that we are ‘whole of market’ advisers so consider options from many companies when sourcing suitable cover for you, at as competitive price as possible.

Please call us so that we can discuss this with you further

Beds & Bucks 01525 877650

Herts 01422 252040

Mobile 07710 770969

or email: advice@sbms-online.co.uk