Protecting your financial future with Critical Illness Cover
Critical Illness cover (sometimes known as Critical Illness Insurance) can take care of your financial future should the worst happen.
We'll put together Critical Illness solutions that gives you a tax free, cash lump sum. It is possible to receive this benefit as a regular income - please see Family Income Benefit.
But what happens should the diagnosis be critical or you experience serious injury and you still have to worry about paying the bills?
BPS Personal offer a one-to-one approach to getting the right cover for you - cover that takes into account your needs, and so is tailored to your personal circumstances.
Call 028 3833 8000 to arrange a meeting with your personal advisor and get a no obligation Critical Illness Cover quote, or email us and we'll get right back to you.
Use the links below to discover more about our Critical Illness Cover service and you will soon find out why so many others are protecting themselves.
What is Critical Illness Cover for?
Critical Illness cover is all about maintaining financial stability in the face of critical illness.
We'll put together a Critical Illness solution that gives you a cash, tax free (under current legislation tax year 2015/2016), lump sum if you are diagnosed with an illness that is covered by the policy. The issues you face may be unique to you, which is why we provide a personal service, but, overall, Critical Illness Insurance is aimed at providing funds to help you stay in your dream home, pay for additional medical treatment if required, or your regular bills. In any case, you will be free to focus on getting better again.
This is so important at a time when life can be stressful and turbulent - and gives you one less thing to worry about.
What does Critical Illness Cover do?
Critical Illness Cover pays out a cash lump sum or regular income (if Family Income Benefit) if you are diagnosed with a specified medical condition or sustain an injury that is covered by the policy.
In consultation with you, BPS Personal can recommend cover that is stand-alone, or efficiently combines with life insurance, to give you the peace of mind you need.
You can also choose to take cover on a level or decreasing basis, with level term assurance maintaining the amount of cover throughout the life of the policy, and decreasing meaning that the cover reduces over time. Decreasing critical illness cover is a good idea financially if, for example, your financial liabilities are also decreasing over time - for example a repayment mortgage.
We will also do our research to find which cover offers added value to your particular circumstances; for example, we can source and recommend policies that offer the most comprehensive children's critical illness cover to meet your needs.
How does Critical Illness Cover work?
Here at BPS Personal, we are all about the individual and offering tailored advice that best serves our client and their family.
In general, however, our approach is to assess your protection needs, advise on the most appropriate level of cover and how long you will need this for.
We'll also ask about your current health as this will determine cost and the most appropriate type of cover for you.
Should you decide to take the cover, you'll pay the monthly premiums throughout the duration of the policy.
Should the worst happen and you receive a diagnosis of one of the specified conditions included in the cover, your insurer will pay out a tax free, cash lump sum.
This is not an investment plan and the policy has no surrender value.
We can also advise on the benefits of putting your insurance policies into trust - just ask your BPS Personal Advisor.
How is Critical Illness Cover underwritten?
When you apply for critical illness cover, you will be assessed individually and medically underwritten.
You will need to provide the following information:
- Whether you smoke or have previously smoked
- Health (your current health, your weight, your family medical history)
- Job (some occupations carry a higher risk than others and may mean you have to pay more each month)
- Hobbies (some hobbies, such as diving, pot holing, and flying, carry additional risk and may increase the cost of your cover)
Each element combines to create a cost for the level of cover you need.
So it's important that you give full and accurate information. Not only will this ensure your premiums are priced accordingly, but that any valid claim is paid fully and quickly.
Do I need Critical Illness Cover?
A better question would be: how would you pay your bills and maintain your home and lifestyle should you be diagnosed with a critical illness? If you are concerned about the answer, you most probably need Critical Illness Cover.
This is especially true given that Government benefits may be lower than you might expect.
The right Critical Illness Cover will help you to pay the bills - or even pay off the mortgage - and protect your finances and lifestyle throughout an already stressful time.
What are my options?
Ask Us - we will help to make the process of getting Critical Illness Cover as quick and easy as we can, because we ask the right questions, research your options and present a suitable, cost-effective solution.
Our experienced protection insurance professionals provide advice you can trust and rely on - it's what we've built our reputation on.
We do not charge fees for our advice and policies can start from under £10 per month.
Call 028 3833 8000 to arrange a meeting with your personal advisor and get a no obligation Critical Illness quote, or email us and we'll get right back to you.