Could you afford a serious illness? Why Critical Illness Cover matters?

Why would I need Critical Illness Cover?

The financial support you get from a payout can be used for various purposes, including:

- covering medical expenses, 

- maintaining living standards, 

- adapting your home to accommodate new health needs.

CIC can safeguard your business interests during periods of recovery and serves as a strategic tool to preserve wealth, ensuring that unforeseen health crises do not erode accumulated assets or disrupt business operations. 

Above all, a lump sum payout offers immediate relief and provides peace of mind in a moment when stress levels will inevitably be high. You will be better able to focus on recovery without the added stress of financial burdens.

Is Critical Illness Cover worth it? Key benefits and extra features

For many UK families, Critical Illness Cover offers both practical and emotional support.  It can provide financial security in the face of serious health challenges, offering peace of mind and financial stability during recovery and acts as a safeguard to protect wealth and business interests. 

Some insurers offer additional benefits, such as access to GP, physio and wellbeing services, as well as subsidised gym memberships which can be particularly valuable for anyone seeking comprehensive care options. LV reported an 24% increase in usage of their doctor services which is not surprising considering the difficulty many face with booking a GP appointment through the NHS.

Policies can be tailored to individual needs, with coverage amounts and terms adjusted based on factors such as age, health, and lifestyle.

Given the complexities and variations in policy terms, consulting with a financial advisor can help individuals select the most appropriate coverage to align with their specific circumstances and financial goals.