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Research* shows that almost a third of employees in the UK don’t have a financial contingency plan if they were to lose their primary source of income. Are you one of these people? What are you going to do about it? Hoping that getting diagnosed with a critical illness doesn’t happen to you is not a great financial strategy.
Coping with a long-term illness can be stressful enough for you and your family, without the added pressure of money worries. Talking to your Financial Adviser about a range of options including life insurance and critical illness cover, is the first step to making sure your loved ones can keep the roof over their heads and pay the bills should you die. But on the bright-side, did you know that critical illness protection can pay out a cash sum as soon as you get a diagnosis. This could mean that you can stop working or go part-time so you can concentrate on your treatment and getting better.
Critical illness insurance covers more illnesses and conditions than ever before, but your illness has to meet certain definitions as laid out in the policy. Critical illness insurance is just one of a range of financial protection products that are available and it can be combined with life insurance. And in addition to life insurance, there is income protection insurance to think about. And, once you have decided which kind of financial protection insurance you want there are more choices and even extras you can add on.
That’s why you need a qualified Financial Adviser to help you make sure you have got the right kind of insurance and the right level of cover for your specific circumstances.
At Four Oaks Financial Services, our initial consultation is at our cost. Contact our Client Liaison Team on 01543 401029.
*Legal & General, 2017
