Serious Illness Cover FAQs
In life, we must be prepared for the unexpected and although we don't often like to think about these topics, it is important that we are protected from unforeseen circumstances. Protecting yourself with critical illness cover not only protects you but also your loved ones. With serious Illness cover, you can put financial concerns to one side and get on with the business of getting well knowing your mortgage and other bills are covered. The team at F.W.E. Crowe Insurance are here to assist you with all of your needs and concerns regarding serious illness insurance. Let us answer your questions and find you the best-priced serious illness cover quotes with a plan that is personally tailored to you.
What is Serious Illness Cover?
Serious illness cover will protect your income should you become critically ill, suffer an accident or acquire a disability all preventing you from working. Depending on the type of policy you have, some plans will pay a tax-free lump sum, pay regular monthly payments or receive payments for specific expenses such as a mortgage or credit cards. You will continue to be covered throughout the term if payments are made, however, once your policy comes to an end, you are no longer protected. When choosing the right critical illness insurance, you can decide how long you want the policy to last. This is ideal for those looking to only have coverage while their children are young or for a certain amount of time. However, it is important to have critical illness cover as an assurance that you and your loved ones will be financially protected in the case that you fall unexpectedly ill.
What Does Serious Illness Insurance Cover?
Illnesses covered differs depending on the policy you take out which is why it is important to carefully review the plan before you agree to it in order to ensure you are protected accordingly. Typically, the majority of policies cover certain cancers, heart attack, stroke and multiple sclerosis. Depending on the policy, you may be able to find plans that also include other major health issues such as Parkinson's, organ transplant, and injuries preventing you from working. The cost of your policy will depend on the standard of your health.
What Does Serious Illness Insurance not Cover?
Serious illness cover (also known as specified illness insurance) is not the same as life insurance, so be mindful, you and your loved ones will not be protected by critical illness insurance should you die. It is also not a form of mortgage protection, so even though you can use your illness pay-out to pay mortgage payments if you wish, it does not pay off your mortgage. For protection on other things, it is advisable to take out other policies protecting your home and life.
Am I Required to Take Out Serious Illness Cover?
You may wonder if it is really worth having serious illness insurance. Those who are single or do not have a family, may think it is not necessary. However, young or old, we are all susceptible to falling unexpectedly ill and therefore must be prepared. Some policies may cover costs like alternative treatments and travel expenses if you are seeking non-local care. Therefore, not only can critical illness insurance aid you in paying for expenses such as mortgage payments and utilities if you are sick and unable to work, it may also cover the costs of life-saving treatments. Critical illness cover gives you peace of mind knowing that in a case where you may become ill, you can carry out treatment and recover without having to worry about falling into a mound of debt. It is recommended that before you take out specified illness insurance you assess your life in order to identify exactly what you need to be protected against. Do you have a mortgage? A spouse? Children? Will your income be covered through your employer? These are all the important aspects that you should take into consideration when researching and deciding which type of policy best suits you and your individual needs.
With the help of the team at F.W.E Crowe Insurance, we can assist you in finding the best Serious illness cover quotes and to make sure you are confident with your policy choice. We want you to rest assured knowing that in a time of illness, you can simply focus on recovery without worrying about financial commitments.
Contact us today for a quote and be on your way to finding the best coverage plans in the market.