Serious Illness
Serious Illness cover, sometimes referred to as “insurance for the living” allows you the time to recover from illness and/or injury without the added worry of keeping the bills paid.
A tax free lump sum upon diagnosis of up to 40 conditions puts you back in control of your financial wellbeing at a time when you need to focus all your efforts on getting back to full health. Get your quote online today.
What is Serious Illness?
Serious Illness cover pays out a tax-free lump sum upon diagnosis of a serious illness and/or condition covered under the terms of the policy.
It’s designed to remove the financial pressure that typically follows a major health setback – long absences from work may make it very difficult to continue to pay the household bills whilst you focus on recovering.
How does Serious Illness work?
You decide the level of cover you require (typically, this is a multiple of x1 or x2 your annual salary).
However, you can select whatever amount you feel is appropriate.
The Life Company will assess your application based against your underlying health conditions and your age.
This determines the monthly premiums you will be charged. Once you accept the cost (and any special Terms that may be applied to the policy) your policy documents are issued and you are “on cover”.
What level of Serious Illness do I need?
The level of cover is determined by a number of key factors. The most prevalent of these is your annual income and your annual cost of living.
Our experience tells us that the most common level of cover is based on a multiple of either 1 or 2 years worth of income. However, you can determine the exact level of cover you feel best suits your circumstances.
How much does Serious Illness cost?
It varies dependant on the exact Terms you request.
The monthly premiums are fixed for each month and payable by Direct Debit.
You can select to have the monthly premiums increased on the anniversary date of the policy each year to increase the level of benefits in order to keep pace with the effect of inflation.
How do I apply for a Serious Illness?
It’s simple. Click the bellow button for a quote. Enter your details and one of our Team will contact you to complete your application. We’re here to help at every stage of the process.
Get a Serious Illness Quote