Critical Illness Insurance is used in a lump sum when a big health event such as certain forms of cancer, heart attack, or a stroke happens to you. It provides a financial blanket in case you become ill from any of the illnesses stated in the policy. Not all serious illnesses are covered in the policy, which insurers often get criticised for, however, your policy will have more information on this.
Sometimes a claim may be denied due to the claimant not disclosing certain health conditions at the time of application. This does not apply to conditions you were unaware of, or were not present at the time of application.
The lump sum is paid out providing the condition is mentioned in the policy. This applies even if they have or are able to return to work.
What the claimant does with the lump sum, is entirely up to them. Many use the money to repay their mortgage, pay for medical care or make any developments to their home.
If you are looking into Protection Advice in Hull, it’s always recommended to speak with a qualified Protection Specialist prior to taking out any type of cover. You are more likely to claim on Critical Illness Cover than you would be with Life Insurance, so this can be more costly. Your Protection Specialist will help you find the most favourable deal.
There is a higher chance of you surviving the types of conditions covered than it was 30 years ago. If you do unfortunately become ill with any of the conditions, this can create financial hardship, especially if you have a mortgage, children or any large credit commitments.
As a Protection Advisor in Hull, we understand that each person’s lifestyles are different to one another, however, this doesn’t mean that unforeseen circumstances won’t occur, leaving you in need of financial support.
Critical Illness Cover can help you cover your finances in these situations. It is common for employers to provide sick pay to their employees, however, this doesn’t last as long as it’s offered for a limited period of time.
With today’s medical advances, if you get critically ill, you are more likely to survive and recover. As mentioned, the lump sum can be used for anything. Some people use it to fund recovery, pay bills and relieve general financial stress.
Joint critical illness cover is an option that is there for if you or your partner gets critically ill, providing you with the funds you need. The one drawback for this is that it will pay out in full, even if only one of you gets critically ill.
Critical Illness cover is paid out in a lump sum if you become ill with any of the conditions listed on the policy. This is done to support you and your family, whereas income protection is paid out in the form of an ongoing income. This is helpful in the event of being unable to work and has the option to be paid all the way to retirement age.
Unlike critical illness cover, income protection will be guaranteed to pay out if you are unable to work. This will be carried on until you are able to work again or if you die.
Our qualified Protection Advisors in Hull, provide a tailored service that can help you find the best cover for you and your circumstances. Furthermore, we understand that affordability is key, which is why we find the type of cover that is fitting for your family’s priorities and budget.
All our customers are offered a free, no-obligation protection review which involves speaking to one of our Insurance Advisors in Hull who will assess your suitability as well as look into existing policies in place. Remember, insurance could be very beneficial for your future.
Take a look at our fantastic reviews by heading over to our reviews page. You may find that someone has been in a similar situation to you before and we have been able to help.
If you are looking to take out a menu plan (one or more insurances at once) we can also help with that! All you have to do is get in touch with our team and we can run through some quotes with you.
4.98 Rating628 Reviews
Jessica
Can't thank the team at UK Moneyman enough for making the process of my remortgage quick and easy and for being so accessible for any questions I had along the way! Thanks
Andrew
Went above and beyond what we expected. Stayed in contact and explained things throughout the process and chased up lenders and solicitors on our behalf. Couldn't have been any more helpful than they have been.
Tomasz
Always helpful. Thanks
Anthony
From the start of the application to the mortgage offer I have been very impressed with this company. They have responded to my emails the same working day and often within the hour. I have received telephone calls when requested at the time...
Kayte
Wayne explained all the options available to me on remortgaging my buy to let property. I was confident in his knowledge of the market and he helped me decide the best financial choice for me. Would recommend:)
Angela
Used Hullmoneyman, I am so glad i did. Tom and Meghan were great during this time of so much uncertainty surrounding mortgages, with Tom going above and beyond to ensure i got the best deal on the market and Meghan's efficency on sending...
Gary
excellent service very helpful and always available to help highly recommend them brilliant
Michael
I got referred to moneyman UK through a member of my family. It was my first time enquiring and applying for a mortgage and they went through absolutely everything, what was going to happen and how to sort each piece out. They couldn't help me...
Rachael
Excellent service from start to finish from both Leanne and Leo. Thank you both for all your help.
Michael
First class service. Detailed advice, comprehensive information documents and efficient. Would highly recommend.
Linda
I would thoroughly recommend hullmoneyman. They searched the whole of the market for a equity release plan to suit me. I’d have no hesitation in recommending them to anyone considering re mortgage
Hannah
Chris was the broker helping me with my mortgage deal. He was very polite, always available and willing to help. I was informed throughout the whole process, and provided with regular updates without needing to ask. The process was very quick and...
Stephanie
Hullmoneyman have been fantastic from start to finish! In particular, a big thank you to Dinah for all of your help in getting our mortgage application in so quickly, and securing a great deal! Very first time buyer friendly company, explained...
Mark
From start to finish our mortgage advisor couldn't be more helpful. He was always available for any queries or concerns we had. The whole process was made to be as stress free as possible. A kind thankyou to Matt Collinson and Chloe Masters...
Darren
Great service from start to finish. Very efficient and very friendly. I would definitely recommend the service to anyone.
Darren
Hull Money Man team - Daniel and Meghan made the process so easy. Daniel was so patient with us, very much appreciated.
Eve
Very thorough and quick feed back highly recommended
Haply
I had Matt helping me with my mortgage. Everyone in the business replied to me very quickly, answered all my questions, made everything less stressful, and I got my mortgage approved v fast.
Lynn
Excellent service from Waynew Dewsbury, Luise Hepworth and the team. They found the best deal for me even after I had gone to the UK's largest organisation and they took care of me and my application every step of the way A++ service! Thank you!
Anonymous
Good service and lovely staff.