Critical Illness Cover

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Critical illness cover pays a tax-free lump sum if a policy holder is diagnosed with a defined critical illness during the policy term. My Mortgage & Protection Experts operate throughout the entire UK and will help you find the right deals for your situation.

Critical illness insurance

If you are wondering, ‘do I need critical illness cover?” then this is all the help you need. Critical illness insurance will pay out a lump sum in the event of a claim if the policy holder suffers from a specific medical condition or injury covered by the terms and conditions of the policy. Once the policy has paid out, generally the policy will end. However, there are exceptions to this with certain UK providers, where additional payments can be made. Types of conditions that are covered as an example are certain types and stages of Cancer, Heart Attack, Stroke, and conditions such as a Permanent & Total Disability.

Children can also be added to critical illness policies, and whilst this is a thought that perhaps we would not want to think about. Most insurers receive a high volume of claims for children every year.

The level of cover can be the amount required to repay the mortgage, or maybe at a lesser amount such as your annual salary or 12 months household expenditure. The level of cover can also be adjusted to suit your budget and term of the policy required. 

Life and critical illness cover

Life and critical illness cover for your mortgage is advisable, especially if you are applying for a mortgage or have other financial commitments. Equally, if you are a sole mortgagee, mortgage critical illness cover could be considered as a higher priority than life assurance, this is because, you as an individual are solely responsible for repayment of the mortgage.

At MMPE we can offer our clients advice with regards to levels of cover required, the differing quality and benefits of individual insurers. There can be significant differences in medical conditions covered between one provider and another and we believe advice is essential.