ltd-Critical Cover, Aberdeen-Mortgageshield


Critical illness insurance


Critical Illness Cover

Gives you a tax free cash lump sum if you suffer from one of a provider defined critical illness or permanent and total disability.  The payment is made on diagnosis of a specified critical illness such as cancer, heart disease and many other serious illnesses. The lump sum can give you the means to help pay for home alterations or specialist equipment, cover day to day expenses, fund private treatment. It can also be set up to provide a monthly income if you prefer, rather than a lump sum.


Critical illness insurance cover Can be either arranged on itís own or attached to other forms of assurance, such as mortgage life cover or family protection cover. It can also be on a joint or single life basis.  If you are a single person you are very vulnerable in financial terms because contracting a critical illness could lead you into having low or no income for a long period of time. Just because you cannot work does not mean that the mortgage company or the loan people will not want paying. They will!


Critical illness insurance cover could give you the money to pay off debts, buy in help or perhaps change your current situation. e.g. a house move, stair lifts or ramps or even be used to pay for medical treatment that would not otherwise be available.  Married couples can also benefit from this cover.  If, for example, the main earner of the home contracted a critical illness and could not work, it would give the whole family financial problems. This type of cover could give you the money to pay off debts and provide for your financial needs.  Whatís more, if you get better you get to keep the money and can get on with your life without the financial worries of the past.


Total Permanent Disability (TPD) cover is also available with most life assurance companies. This means that the policy will pay out if you become permanently disabled as a result of an accident, for example, and are unable to carry out specified daily activities of living.