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Critical illness insurance offers valuable financial protection in the event of a specific illness or disability diagnosis, however, it’s essential to note that not all policies cover every serious illness, making it crucial to explore various options before choosing a policy. To ensure a smooth claims process, honesty with your advisor about your health is essential, as it can help avoid claim rejections.
This lump sum can be utilised to pay off a mortgage, cover medical expenses, or even make necessary home improvements. If you are seeking critical illness insurance in Sheffield, our expert protection and mortgage advisors in Sheffield are here to help you.
If you require assistance with Critical Illness Cover or finding a reliable mortgage broker in Sheffield, our team is readily available to provide comprehensive answers to all your insurance inquiries. Seeking advice before choosing an insurance product can be highly beneficial, as it helps you identify the most suitable option based on your individual circumstances and needs.
Critical Illness Cover offers broader protection, encompassing a wide range of conditions, which increases the likelihood of receiving a pay-out in the event of a qualifying diagnosis. Due to the comprehensive coverage it provides, the premiums for this type of insurance may be slightly higher than other life insurance products.
Sometimes a claim may be denied if the claimant did not include the specific health conditions during the application. This exemption doesn’t extend to conditions unknown or absent at the time of application.
The lump sum is released as long as the mentioned condition is covered by the policy, irrespective of the claimant’s ability to return to work.
What the claimant does with the lump sum, is entirely up to them. As a trusted mortgage broker in Sheffield, we see many use the money to repay their mortgage, pay for medical care or make any developments to their home.
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Typically, critical illness policies have a specific duration outlined at the time of purchase. If you prefer lifelong coverage, a Whole of Life insurance product may be more suitable. Commonly covered conditions in critical illness policies include heart attacks, strokes, and cancer.
The monthly premium is determined not only by the coverage you select but also factors such as age, gender, health history, occupation, and lifestyle habits like smoking or drinking.
Our qualified protection and mortgage advisors in Sheffield are open and honest communication when helping you secure critical illness cover. We ensure that your policy aligns precisely with your needs and preferences.
Critical illness cover may have higher costs compared to life insurance due to its broader coverage of illnesses and disabilities. Your mortgage advisors in Sheffield will explain the details and workings of the policy, exploring all available options to determine the best fit for your situation. If another policy would be more advantageous, they will transparently inform you.
Start a conversation with our dedicated protection advisor to explore the insurance options that align with your interests and needs.
Our extensive access to a range of insurance products lets us to identify the most suitable and effective policy to protect you and your family.
We will move forward by submitting your application to the provider. In some cases, the policy provider may require additional information from us to further review your application.
If you’ve secured your mortgage with us, we’ll be in touch when it’s time for you to remortgage. This will provide us with an opportunity to review any existing policies you currently hold.
Experience a complimentary Insurance consultation in Sheffield, where you’ll gain valuable insights into the world of Critical Illness Cover. Our knowledgeable Protection Specialists in Sheffield will be there to guide you through the process, presenting a range of policies tailored specifically to your unique circumstances. With our expert advice, you can rest assured that the chosen policy will provide optimal benefits for you and your family.
In your search for protection advice in Sheffield, Critical Illness Cover stands out as a top-notch option. Irrespective of the available coverage choices, it offers substantial benefits and the reassurance of knowing that your family will be financially secure to cover any outstanding debts or expenses.
Our dedicated team is committed to finding you the perfect policy, serving as a financial safety net for your family in the unfortunate event of your passing. Opting for Insurance options in Sheffield ensures that your loved ones won’t face unnecessary financial burdens during such a challenging time.
Drawing on our extensive experience as a mortgage broker in Sheffield, we’ve observed that many of our customers choose to complement their Critical Illness Cover with other policies, tailoring their choices to suit individual needs and circumstances.
In the event of a serious illness or disability, your chances of survival and recovery are higher than ever before. However, during such challenging times, you may still require financial support to manage essential payments like your mortgage, child support, or other commitments.
Fortunately, critical illness insurance can provide you with a lump sum pay-out, offering flexibility in how you use the funds. While some may choose to allocate it to necessary expenses, others opt to treat themselves to a holiday or make a special purchase. The choice is entirely yours, providing peace of mind and financial stability during difficult circumstances.
Similar to life insurance, joint critical illness policies can offer coverage for both you and your partner in the event of a critical illness. However, one drawback of these policies is that the entire lump sum pay-out will be triggered when either one of you becomes critically ill.
This means that the policy will end once the lump sum is paid out, leaving the other partner without coverage for any future critical illness events. It’s essential to carefully consider the terms and conditions of joint critical illness policies and assess whether they align with your specific needs and preferences.
In the unfortunate event of a covered illness or serious diagnosis, your policy will provide a lump sum to offer vital financial support to you and your family during these challenging times. However, income protection goes a step further and continues to provide pay-outs if the illness or diagnosis leads to your inability to work.
This means that income protection ensures a steady stream of monthly payments until you recover and can return to work or until you reach retirement age.
Unlike critical illness cover, income protection offers guaranteed pay-outs if you are unable to work, providing ongoing support and peace of mind. These payments will continue until you are fit to resume work or in the unfortunate event of your passing.
With income protection, you can be reassured that you and your loved ones will have a safety net to rely on during times of uncertainty and financial strain.
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Sheffieldmoneyman.com & Sheffieldmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Sheffieldmoneyman 2025.
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Sheffieldmoneyman.com & Sheffieldmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Sheffieldmoneyman 2025.
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