Critical Illness insurance pays out if you were diagnosed with a critical Illness that meets the definition as prescribed by the provider. It will usually pay a lump sum payment, with the most common critical Illness a policy will pay out for being cancer, stroke, and heart attack.
The policy will usually have a life insurance element built in, but normally if the policy pays out for the critical Illness, then the policy will end.
Your policy is covered by you making monthly payments. The payment amount is determined by your job, age, smoking status, overall health, how long the insurance is for and the amount being insured.
It is typically taken out to clear a mortgage debt and/or to help provide financial reassurance while you are recovering from your critical Illness.
At RNR Mortgages, we aim to make arranging your life insurance, like your mortgage, stress-free, anxiety-free and hassle-free.
Do I need Critical Illness insurance?
Whether you are living on your own, have dependents or family living in a home which has a mortgage, we recommend having some sort of critical illness cover.
To further help identify whether you need critical illness insurance, try asking yourself the following two questions:
If you were diagnosed with a critical illness yesterday, how do you want yourself and your family to be looked after today?
Is it important for you to remain in control of keeping your home, regardless of any circumstances?
We are proud to offer critical illness insurance advice and support to those in Leicester and beyond. We will help you ascertain how much cover you need and take into account your current health situation. Once we have done this, we will be in a strong position to find the perfect provider to meet your requirements.
Contact Us Today
If you are looking into critical illness insurance options, get in touch with our specialist team who are on hand to answer any questions, provide support and guide you on taking out the right policy to meet your needs.
