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A L P H A F . M . L T D . |
Welcome to Alpha Financial Management Ltd - Telephone 0151 949 1666 |
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 Critical Illness Critical Illness Cover is generally available as a standalone plan or as an additional benefit to another plan such as term insurance whole of life cover or a mortgage endowment. The point of the benefit is to pay out the sum assured in the event the life or lives assured suffer one of a list of critical conditions. More often than not people take out life assurance for the right reasons, they want to protect their families standard of living in the event they die. The problem is not many people give consideration to what might happen if they had a serious illness such as a heart attack and did not die. That is exactly were critical illness insurance cover comes in. The most common use of this type of cover is on a mortgage. This then means that if the unthinkable happens not only the family but the policy holder benefits from the benefit. The benefit pays out and the mortgage gets repaid taking a considerable strain off the finances just when you need it the most. One of the most important things to bear in mind with Critical Illness insurance cover is regardless what happens after the condition strikes, you and your family still get the benefit. So you could have a heart attack and get better, the mortgage will still be repaid, all this is because it is the diagnosis of the condition that triggers the benefit and not the overall outcome, making it a truly valuable benefit indeed. Below are some examples of the types of critical illness conditions covered in a cross section of critical illness insurance cover policies available from the life insurance companies:- Heart Attack Stroke Cancer Multiple Sclerosis Coma Major organ transplants Blindness Deafness Heart surgery Kidney Failure Loss of two or more limbs Loss of speech Alzheimers disease, however a lot of insurers will restrict the benefit on this condition to pre age 65 Parkinsons Disease again generally restricted prior to age 65 Permanent Total disability before age 65. Pre Senile dementia pre 65 Third Degree burns It should be noted that this is not an exhaustive list as such there may be more or less conditions than those stated above in any particular policy, also policy wording and definitions also differ from life insurance company to life insurance company. With these facts in mind it is always important to seek professional qualified independent financial advice when selecting the best and most appropriate critical illness insurance cover for yourself. How do I appoint Alpha Financial Management for advice on critical illness cover? Firstly contact us using the enquiry form below or call us on 0151 949 1666 You will be appointed your own protection adviser who specialising in advising of the vast array of protection products available in the market. Our fee guarantee: You will not pay any fees unless we can help you. Click here to view our Client Agreement.
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