Critical Illness and Income protection

Critical illness insurance pays a lump sum on initial diagnosis of a qualifying critical illness. When you make a claim you are allowed to keep the policy pay-out even if you make a full recovery.

It can be built into another life insurance policy on a level term, decreasing term (mortgage life insurance) family income benefit (pays a monthly amount) or as a stand alone critical illness policy. Once you have made a critical illness claim it is normal that you policy will cease and other benefits will therefore cease.

Critical illness protection policies vary but nearly always include the following illnesses;

heart attack, cancer, a stroke, kidney failure, coronary bypass or transplant

Critical Illness Insurance Pros & Cons

Pros

• It will be useful if you would like to protect yourself or your families financially if you are diagnosed with a critical illness.
• It is up to you how you spend the money.

Cons

• Not all critical illnesses will be covered under the policy.
• You are sometimes not covered for pre-existing conditions.
• Critical illness insurance policies can be expensive.

The types and range of critical illnesses covered vary from company to company, as  do the policies themselves and there are several types of policy from standalone policies linked to life insurance and payment protections policies.

Radical Financial Services have the expertise to guide you to the policy that fits your personal and business needs with Impartial, Independant advice.

Henry will be more than Happy to discuss your requirements with no obilgation, Please call us on 01384 566 588 or e-mail us at info@radicalfs.co.uk