Critical Illness Insurance

Although it sounds like it would do just what it says ‘on the tin’, critical illness insurance comes in many shapes and sizes, and there are a great many providers on the market offering a wide range of policy types. Negotiating this maelstrom can be complicated, especially if you don’t have experienced, knowledgeable specialists in your corner. Thankfully, the team at DJC Wealth Management are only a phone call away.

A critical illness policy will provide you with a tax-free, cash lump sum should you fall victim to any number of serious health issues. They include the likes of cancer, cardiac arrest, liver or kidney failure, a stroke or multiple sclerosis. These and many other conditions can prevent you from earning an income, and can then have a devastating effect on your and your family’s finances. If you have ever wondered, even for a moment, what life would be like without a salary coming in you’d know how difficult things could get in a very short space of time.

If you have a policy in place, you can use that lump sum for a number of uses, including paying for medical treatment, settling existing loans, keeping up to date with rent or mortgage payments, helping with household bills, continuing to pay school fees and just about anything else. The peace of mind that comes from knowing you’re protected is almost impossible to quantify should the worst case scenario occur.

The cost of your cover will depend on a number of variables, including of course how much you’d like to pay each month in premiums. There are other issues to consider as well; level cover policies will protect you for a relatively fixed amount and for a set number of years, while a decreasing cover policy, often used in association with a repayment mortgage, will pay a lessening amount as time goes by, in line with the mortgage. The choice, as always, will be entirely up to you, and if you need advice and guidance along the way we’d be only too happy to provide it.

It’s impor

tant to remember that critical illness cover is different from a life insurance policy, in that it won’t usually pay out in the event of your death. There are policies available which combine the two together, and we can advise on whether this would be more beneficial to you. As always, if you have any questions all you have to do is ask. The team at DJC Wealth Management have many years of experience and an in-depth knowledge of the insurance market, and this puts us in the ideal position to offer the most reliable guidance to all of our clients.

Choosing the right policy to suit your individual needs is hugely important, so make sure you get it right first time by letting us scour the market for your best options. There’s no point in taking chances when it comes to something as vital as critical illness insurance, after all. To start the ball rolling, call the team today for a friendly chat on 07449 632 927, or use the online form on our Contact page. We look forward to helping you soon.