This insurance can be particularly useful for providing a tax-free lump sum payment if the insured person has a specific illness or condition which is covered by the policy. They only pay out, though, on the illness covered - so it definitely won't pay for an illness not on the list. The friendly consultants at UKFCS Mortgage Specialists will be able to advise you regarding the policies available.
There are many different critical illness policies covering different illnesses. An important point to remember is that if a specific illness runs in the family, the insurance payments will be higher because of the additional risk to the insurance company. It is also possible to have critical illness cover for more than one person, so for instance a couple should be able to take out a policy. There can be a problem with this type of policy as some policies only pay out for the first person with the critical illness.
This is certainly a policy which needs advice from the experts. The knowledgeable consultants at UKFCS Mortgage Specialists will be able to talk you through the various policies available and whether or not certain exclusions are relevant. Only by discussions with the consultants will they be able to advise you as to the best alternatives for critical illness insurance.
Kirk at UKFCS Mortgage Specialists is a very professional and competent broker, he is very trustworthy and we have worked closely for many years helping lots of clients in the process. Highly recommended.By Chris Warner in Harlow, Essex
UKFCS Mortgage Specialists provide a fantastic service. The advice I was given was thorough and jargon free. Everything was done efficiently and they saved me money. I will definitely be recommending them to friends and family.By Sheetal Patel from West London
Authorised and Regulated by the Financial Conduct Authority. UKFCS Mortgages Specialists is the trading name of UK Financial Consultancy Services Ltd. UK Financial Consultancy Services Ltd, Registered in England and Wales No.5467810
Registered Office: 33 Darnley Road, Gravesend, Kent, DA11 0SD Your home may be repossessed if you do not keep up repayments on a mortgage or any other debts secured on it.
The overall cost for comparison is 4.4% however the actual rate will depend on your circumstances.
UK Financial Consultancy Services Ltd operate as an intermediary and are not a principal lender
Our FCA registered number is 435495 and can be found on the regulators website at www.fca.org.uk/register