In times of illness or injury, worrying about finances is a stress you really don't need. Critical illness plans can provide a lump sum on a term or whole life basis, helping to manage the financial consequences of taking time out of employment or affording care. Our advisers are on hand to provide comprehensive advice about critical illness cover, putting you in charge of your life and finances, no matter what obstacles come your way.
One of our advisers will help you create a protection plan that is specifically tailored to meet the needs of you and your family, with flexibility for changing circumstances. Many protection insurance contracts also include a range of extra benefits such as child’s critical illness, terminal illness, and waiver of premium. These extras can help make a practical and emotional difference during difficult moments. Our advisers will help customise a protection plan that provides support and peace of mind based on the individual needs of your family.
Less well-known is that children can also have a pension fund as soon as they are born – and setting one up can bring significant tax advantages. Even if your child is a non-taxpayer, they will still get basic-rate tax relief on contributions. That means a maximum of £2,880 a year is automatically grossed up to take account of tax at 25%, giving an annual investment of £3,600
If you become critically ill, the insurance pays out a lump sum that can help cover medical expenses, rehabilitation costs, modifications to your home or vehicle, and other financial obligations. This financial support ensures that you can focus on your recovery without worrying about the financial burden of your illness.
Critical illness protection can help offer additional benefits beyond the healthcare provided by the NHS. With the money you receive, you may be able to access private medical treatments or specialised therapies not available through the NHS. It can also help cover the costs of seeking alternative or complementary treatments, opening up more options when it comes to managing your illness.
The payments from critical illness cover can be used to alleviate the financial strain on your family. It can help cover everyday living expenses, mortgage or rent payments, and childcare costs. This ensures that you and your family can maintain your standard of living while supporting you through your illness.
None of us can predict what the future may bring, but we can put measures in place to help us deal with unexpected events that come our way through protection planning.
Life insurance cover is specifically aimed at helping clients navigate through some of life’s most difficult moments, easing the financial strain in the event of critical illness or injury. We offer advice that is aimed at helping you make well-informed decisions, based on the options available to you.
Please note that these plans do not have a cash-in value and will stop if payments to them cease.
For more details about services that we offer reach out to us on 01202 695801, or click the button below.
