Insurance
Critical Illness
If you, or those who depend on you, would face financial difficulties if you became critically ill (for example if you had cancer, a heart attack or a stroke), you may want to consider taking out critical illness cover. If youre critically ill, the last thing youll need is any financial worry like the fear of losing your home because you cant pay your mortgage.
Critical illness cover aims to give you peace of mind in these circumstances.
Critical illness policies usually pay a tax-free lump sum if you suffer from one of the illnesses or conditions, or have one of the surgical procedures (collectively known as the critical illnesses), covered by the policy.
Term insurance is sometimes called 'protection only' insurance. Critical illness is set up for an exact amount of cover over a specified term.
Critical Illness Insurance can either be a level cover the amount of insurance stays the same throughout the policy, or decreasing to cover a repayment mortgage this would be the cheaper option but only guarantees to pay your mortgage off in the event of your death.
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St Barts Finance Ltd is an appointed representative of Openwork Limited, which is authorised and regulated by the Financial Services Authority
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Tel: 01202 520550