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Do you need Critical Illness Cover in Birmingham?

Mortgage Protection Insurance Advice in Birmingham

Critical Insurance Explained | MoneymanTV

A long-term insurance policy that covers an individual who has a severe illness listed within a policy is known as critical illness cover or critical illness insurance.  

When you take out the policy, you will need to mention any underlying medical conditions. This could mean some illnesses being excluded from the cover. If you don’t disclose any underlying medical conditions, this could make the policy void in the event of a claim.

The way this illness policy works is through a one-off payment that provides financial support to pay for your mortgage, medical care or make modifications to your home if needed.

What does critical illness cover? 

In the circumstance, where you get one of the specific medical conditions or injuries stated within the policy, this is when Critical illness insurance will pay out.

Remember, that not all instances of a specific illness will be covered. Within the policy, it will mention what particular conditions are covered along with defining these in the policy documentation.

Through our experience, we sometimes find that a number of customers mix up critical illness cover with life insurance. Even though they are purchased together, they are entirely different in terms of what they cover.

Examples of critical illnesses that might get covered include: 

  • Cancer 
  • Stroke 
  • Heart Attack 
  • Certain types and stages of cancer 

A number of policies will also consider permanent disabilities that could result from injury or illness and other illnesses that aren’t listed above.

What isn’t covered? 

Some illnesses may not be listed in the policy such as more severe forms of cancer and conditions. It’s unlikely that you won’t be covered for health problems you were aware of prior to taking out the insurance. Furthermore, this type of insurance doesn’t payout if you pass away.

The policy details will disclose what’s covered and what isn’t, therefore, you need to be fully aware of these by looking through all documentation to make sure they protect your needs.

Other types of insurance you might need 

The benefit of many insurance products is that they provide you with peace of mind should something go wrong. The links below can provide you with more information on this:

  • Do you need life insurance? This product will provide some financial support to your dependents if you die. 
  • Do you need income protection insurance? This type of insurance provides regular payments if you’re unable to work due to illness or injury. 
  • Do you need mortgage protection insurance? This umbrella term is used for various types of cover to help protect borrowers from any unfortunate events or circumstances that would prevent them from keeping up their mortgage payments. 

Our Critical Illness Insurance Advice service in Birmingham 

All our new/existing customers are offered a free no-obligation protection review where our hardworking team can look at any existing policies you have in place as well as assess their suitability.

Affordability is key with any financial venture. This is why we provide a tailored service to get you in touch with an experienced Mortgage Advisor in Birmingham from our team who can search for the most suitable combination to your family’s priority and budget.

Birminghammoneyman.com & Birminghammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
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