Health

Having a serious illness or accident can have a dramatic effect on your financial health. To be told by your doctor that "you have had a heart attack and that the stress of your work is partly to blame, so "stop working or die" is not, if you have a mortgage to pay and a family to keep, advice that is easy to take.

But if you have a Critical Illness policy you can receive a lump sum payment that will allow you to follow that advice. You can stop working, relax, concentrate on getting better, and not worry about the bills.

Most people insure themselves for a sum that is between the amount outstanding on the mortgage and the mortgage amount plus two years income. The hope is that in two years you will either have recovered, or been able to make some other arrangements (See also Permanent Health Insurance).

How it Works

The policies pay out a lump sum if you find that you have any one of a number of serious named conditions or need a named operation. Payment is normally made on either diagnosis or progression to some specified level of seriousness. The conditions covered vary from company to company, but will normally include:

- Cancer
- Heart Attack
- Stroke
- Terminal Disease

There will frequently be a long list of other conditions such as MS, Motor Neurone Disease, loss of sight, hearing and limbs, and others, the details of which may vary between insurance companies. We will help determine what cover you need, if required.

Company Plans

If you are a company and have valuable staff whose absence due to a Critical Illness would cause a problem, (e.g. the sales manager whose personal touch closes the business and who is laid off by a heart attack, or the technical specialist whose skills are essential to providing solutions for clients) then as a company you can insure the company against this. We will be pleased to discuss this with you.