Serious Illness Protection

Protection to cover you if diagnosed with a Serious illness or Critical illness

Critical illness cover pays out a tax-free lump sum if you are diagnosed with a major illness as specified in the policy, for example, cancer, and heart disease.

 

Some insurers will make a part payment on an early-stage diagnosis of a condition specified in the policy, the percentage will vary from company to company.

Many people buy a combined life and critical illness policy, and it often makes sense to do so.  In this case, a payment would be made for either diagnosis of a critical illness, or death, whichever is the sooner.  If the cover is combined in this way, the policy premium is usually cheaper than it would be for separate policies, as there is only ever one lump sum paid out by the insurance company.

 

Serious Illness cover or Critical Illness cover protects the insured against specified illnesses that the insured persons may be diagnosed with, during the term of the policy. 

 

Statistically, as life expectancy increases we are more likely to be diagnosed with a serious or critical illness during the term of the policy than we are of dying.  More and more customers see this type of Protection as a requirement and are often taken out in conjunction with Decreasing Life Insurance or Level Term Insurance.

 

It is important to consider whether, in the event of being diagnosed with critical or serious illness, how you and your family would live from month to month and fulfil your financial obligations. 

 

Having a cash lump sum to be used to pay your monthly commitments or repay some or all of your mortgage should be seriously considered when thinking about taking out life insurance.

 

Our protection specialists are able to provide you with a no-obligation protection quotation for serious illness or critical illness cover.

 

Simply fill in this form, opposite or contact one of the team to discuss your needs.

Other Types of Life Insurance

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR
PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP
REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

 

CALLS ARE RECORDED FOR TRAINING AND MONITORING PURPOSES

Legal Information

.The Money Bee, which is a trading style of Promise Solutions Ltd and is authorised and regulated by the Financial Conduct Authority– Number 681423. Registered in England, company number 04822774. Data Protection Reference Z8661889
Registered Office: 2nd Floor, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG.

Terms and Conditions

There may be circumstances where we need to charge a fee.  In these instances, we will notify you at an early stage which could be £125.00 upon application and an arrangement fee up to 1% of the advance subject to a maximum of £2500.00, on receipt of the mortgage offer.

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2nd Floor, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG.

2 out of 3 borrowers get a lower rate than our representative example of a regulated secured loan below:

 

Mortgages and Remortgages

Representative example

£80,000 over 240 months at an APRC OF 4.3% and a discounted variable annual interest rate for two years of 2.12% at £408.99 per month followed by 36 payments of £475.59 and 180 payments of £509.44. The total charge for credit is £39,873 which includes a £995 broker/processing fee and £125 application fee. Total repayable £119,873.

 

Secured / Second Charge Loans

Representative example

£63,000 over 228 months at an APRC OF 6.1% and an annual interest rate of 5.39% (Fixed for five years – variable thereafter) would be £463.09 per month, the total charge for credit is £42,584.52 which includes a £2,690 broker/processing fee. Total repayable £105,584.52.

 

Unsecured Loans

Representative example

£4,000 over 36 months at an APR OF 49.9% (fixed) and an annual interest rate of 49.9% would be £216.21, total charge for credit is £3,783.56. Total repayable £7,783.56.