Critical Illness Cover

A man holding a hospital stethoscope

What is Critical Illness Cover?

Critical illness cover is designed to offer financial protection in the face of a severe illness or medical condition. This type of insurance provides a lump sum payment if you are diagnosed with a critical illness covered by the policy. The funds received can help you cover medical expenses, seek specialised treatments, make necessary modifications to your home, or even provide financial support during your recovery period.

Critical illness cover offers peace of mind by relieving the financial burden that comes with a life-altering illness, allowing you to focus on your health and well-being.

FAQ’s

  • The cost of Critical Illness Cover can vary significantly based on individual factors.

    Several elements contribute to determining the price, such as your age, smoking status (including past smoking or nicotine replacement use within the last 12 months), desired coverage amount, and duration of coverage needed.

    Your overall health and lifestyle choices, including weight and family medical history, also play a role. Additionally, certain occupations and engaging in hazardous hobbies like extreme sports may increase the cost of coverage.

    Since each person's circumstances are unique, it is essential to obtain a personalised quote for a more precise estimation of the price.

  • Critical Illness Cover can provide financial support in the event of a serious illness; however, whether it will specifically pay off your mortgage depends on the terms and conditions of your policy. Some Critical Illness policies do offer mortgage payment protection, where a lump sum payout can be used to pay off or contribute towards your mortgage. It is essential to carefully review the policy details you are considering to determine if it covers mortgage payments. Additionally, there may be specific criteria and conditions that need to be met for the payout to be used towards mortgage repayment. Therefore, it is advisable to thoroughly discuss your requirements and concerns with the insurance provider to ensure you have a clear understanding of how the Critical Illness Cover can assist you regarding your mortgage.

  • Each application is carefully assessed on an individual basis, and your age and medical history will be taken into consideration. Based on your medical history, certain conditions might be excluded from your policy. One of our professional advisers will be able to conduct an assessment to establish whether or not critical illness cover is available to you. They will research the providers and explain the options to you.

At ACL we not only guide you through the complexities of obtaining a mortgage but also ensure your financial well-being with comprehensive protection. Protection is an essential aspect of any mortgage journey, providing you and your loved ones with peace of mind and security. Whether you're a first-time buyer or an experienced homeowner, unforeseen circumstances such as illness, disability, or even the unfortunate event of death can have a profound impact on your ability to meet mortgage repayments. Our team of expert advisors are here to help you understand the importance of protection and assist you in finding the right insurance solutions tailored to your specific needs. By safeguarding your home, income, and family, we ensure that you can confidently move forward in achieving your homeownership dreams, knowing that you're covered during life's unexpected twists and turns.

As with all insurance policies, conditions and exclusions will apply.