- Wed 11 Oct 2023
How would you cope financially if you were diagnosed with a critical illness? This is not a very pleasant topic to think about, but did you know that in the UK alone, 1 in 2 people will be diagnosed with a form of cancer during their lifetime, according to the most accurate forecast to date from Cancer Research UK, and published in the British Journal of Cancer.
Some of the benefits of a Critical Illness policy:
✓ Can be arranged as a single or joint policy, subject to underwriting.
✓ Insurance providers will pay out a tax-free lump or monthly sum upon diagnosis of a critical illness depending on how the policy is set up at the outset.
✓ The sum can be used to clear an existing mortgage or to help towards monthly commitments to help reduce the financial strain whilst potentially not being able to work.
✓ If you have children, some providers will allow you to add an additional benefit onto the policy which means that you could receive a lump sum in the unfortunate event that one of your children is diagnosed with a critical illness.
✓ Peace of mind.
✓ Financial security.
Examples of Critical Illness:
• Alzheimer’s Disease
• Heart Attack
• Parkinson’s Disease
• Multiple Sclerosis
• Motor Neurone Disease
• Major Organ Transplant
• And many more………
Please note that all forms of above listed critical illnesses are not included in the cover provided by insurers.
Bradleys Financial Management Ltd and Bradleys Estate Agents Ltd are two different entities and the estate agents act as introducers for Bradleys Financial Management.