Critical Illness Cover

We are Authorised and Regulated by the Financial Services Authority (FSA) and are able to provide fully independent advice.
Our Financial Advisers have a wealth of experience in the financial services arena and are able to provide you with fully independent advice in all aspects of financial planning.

Key Features

With the improvements in medical science and generally improving public health, conditions which used to be fatal are now not so, e.g. heart attacks and cancers.

However, the financial implications of contracting such a condition can be devastating. Research by Norwich Union has shown that the single biggest cause of a relapse or re occurrence of a condition is stress caused by financial pressures and returning to work too soon.

Critical illness cover pays a lump sum upon diagnosis of a condition, typically 28 or more are included, as opposed to on death.
Cover can either be on a term basis, for example to cover a loan, or for life.

Aims

• To provide a lump sum on the diagnosis of one of a wide range of specified critical illnesses.
• To let you choose between different levels of cover for the same initial contribution. The choice you make will affect the size of any benefit payable on death or cashing in.
• To give flexibility to alter the plan if needs change.

Your Commitments

• You agree to pay a regular contribution for the rest of the life insured's life or until a valid critical illness claim. These contributions may be paid monthly or yearly by direct debit only.

Risk Factors

• The plan is designed as a long-term commitment and should not be seen as short term.
• What your plan is worth will depend on the level of cover you choose and investment performance, which will vary.
• Your plan will be reviewed regularly. At these reviews you may have to increase your contribution if you want to maintain your chosen level of cover. If you choose a high level of cover compared with the size of your contribution then these increases will be significant.
• Depending on the level of cover you choose your plan may have little or no value on death or cashing in, even after many years.
• If a life insured dies within 28 days of being diagnosed as having one of the specified critical illness conditions then the lump sum payable will be the death benefit. This may be significantly less than the amount that would have been payable on a valid critical illness claim.
• Remember that your circumstances could change and you may have to cash in when the value of your plan is low.
• Charges may increase in the future. Part or all of the plan benefit might be lost if you do not disclose any relevant information. We will not pay out if a critical illness results from an excluded cause.