Critical Illness Cover

What if the worst doesn`t happen….but the next worst thing does?

Critical illness cover can provide a tax free lump sum upon the diagnosis of a specified critical illness. The benefits from this type of policy can be used to repay outstanding debts or can be invested to provide an on-going income to replace lost earnings. If required, the lump sum could be used for alterations to your home. e.g. widen doorways, create a downstairs bedroom or bathroom.

If you were to suffer a heart attack, a stroke or be diagnosed with certain types of cancer and were unable to work, how would you and your family manage financially? This type of protection is designed to ensure the last thing you will be worrying about at a very difficult time is money.

Your Caboodle adviser will be able to discuss any areas of uncertainty with you as it is important you arrange the correct level of cover for your needs, but the most frequently asked questions are detailed below for your information

What critical illnesses are covered?

Whilst most common major illnesses are covered by insurers, not all companies cover the same illnesses, so it is important that you are familiar with the inclusions and exclusions before any documentation is signed. The illnesses usually covered are

• Alzheimer`s Disease before age 65
• Angioplasty
• Aorta graft surgery
• Benign brain tumour
• Blindness
• Cancer (most malignant types)
• Coma
• Coronary bypass surgery
• Deafness
• Heart attack
• Heart valve replacement or repair
• HIV and AIDs (named groups only)
• Kidney failure
• Loss of limbs
• Loss of speech
• Major organ transplant
• Motor neurone disease before age 65
• Multiple sclerosis
• Paralysis/paraplegia
• Parkinson`s disease before age 65
• Permanent Total Disability (PTD) before age 65
• Pre-senile dementia before age 65
• Stroke

What types of critical illness cover are available?

Decreasing term critical illness
This policy provides a reducing level of benefit throughout the term and is usually the best choice for covering the balance on a repayment (or capital and interest) mortgage, as the amount of money the policyholder has been insured for decreases over the term of the policy in line with the value of the outstanding mortgage balance

Level term critical illness
This policy provides the same level of benefit throughout the term and is usually the best choice if covering an interest-only mortgage, as the value of the outstanding mortgage balance remains constant during the term of the policy. It is also the preferred option where the benefit is to be used to replace income lost as a result of the illness

Index-linked critical illness
This type of policy is designed to counteract the effects of inflation on the amount of benefit paid if a claim is made, providing sufficient protection for your family

The process is simple, to get a free no obligation personal illustration for critical illness cover either complete the short online enquiry form and a Caboodle adviser will contact you, or call us on 0800 151 2407 or
0121 308 9114.