Critical Illness

CRITICAL ILLNESS

A financial safety net in your time of need

Critical illness is set up to give you financial freedom if you suffered a life-changing event.

The life changing events that are eligible for a claim will vary from insurer to insurer, and this is the biggest reason you should always use a broker. Insurers illness policy wording varies from provider to provider, and can provide varying levels of cover. An experienced broker will help you find a policy that has a good cover to price balance for you.

As with life cover, it can be arranged in either as a level term cover or decreasing term. Level term is where the payout amount doesn’t decrease over time whereas decreasing term gradually reduces the amount of the payout over time.

Decreasing term is lower risk to an insurer than level term, and as such decreasing term is cheaper than level term.

It can be tricky to see all the potential gaps you need to consider, and as such, advice from an experienced broker is key. Contact us today and we can help.