Is my critical illness plan providing me with the right level of cover?

Timi Osih, Protection Engagement Manager at The Penny Group, discusses critical illness plans, and the importance of understanding the level of cover you have and the additional benefits that may be available to you.

If you have a critical illness plan, you want to be sure that it continues to provide the level of cover, quality, and value you would expect it to.

Did you know many critical illness plans available today come with value-added benefits?

Here are just some examples of additional services that might be included in your critical illness cover:

Children’s critical illness – your child (by birth, adopted or from a blended family) may automatically be covered for critical illness cover.

Remote GP appointments – book an unlimited number of telephone/video appointments with a doctor within 24 hours, instead of waiting weeks for an appointment.

Mental health support – access specialists offering support for a wide range of mental health issues.

Improve annual health checks – have the peace of mind, knowing your health status, where you are going right and where you can improve.

In the event of a claim, how would you anticipate using the money?

A recent study indicates a surprisingly high level (22%) said they would use it to help fund private medical treatment and speed up access to healthcare. (CI Experts – Critical Thinking Report 2024).

Critical illness claims are paid tax-free, and the money does not have to be used to repay a mortgage, here are some other ways the funds could be used:

• Private medical treatment

• Replace income

• Repay debt

• Improve quality of life.

In the past 10 years we have seen a tremendous improvement in the quality of critical illness cover and we would like to offer you a no obligation protection review to check your existing plan is meeting your needs, what value-added benefits it includes and make any recommendations on how this could be improved.

If you would like to know more about our wider protection and insurance services click here.

If you would like to arrange a call or a meeting with one of our Protection Advisers who will explore this with you in more detail, please email us at info@thepennygroup.co.uk, or give us a call on 0207 061 2345.

In addition to the above, if you have experienced a medical condition and you are unsure whether it would be included in your plan, please reach out to us ASAP and we can check this for you.

Approved by the Openwork Partnership on 05/08/2024

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Published on September 3, 2024