Premium Lending
Critical Illness
Insurance designed to support you if you’re diagnosed with a serious illness, providing a one-off lump sum to help with your mortgage or other financial obligations.
Rated 5 stars on Google
Free 15 Min Discovery Call
Expert Advice
Market Leading Packages
What is Critical Illness Insurance?
Life is unpredictable, and a serious illness can happen when you least expect it. Critical illness cover, also known as mortgage critical illness insurance, is a long-term policy designed to provide financial support if you’re diagnosed with a critical illness.
Different from Life Insurance:
While it’s not the same as life insurance, critical illness cover can often be combined with life cover for comprehensive protection.
Considering critical illness cover? Speaking with an advisor is a great starting point. They can guide you through your options and help you find a policy that suits both your needs and budget.
Types Of Insurances
Lump Sum Payout:
Most policies offer a one-off payment upon diagnosis to help with expenses like your mortgage or other financial commitments.
Varied Coverage Levels:
Some policies include additional payouts for less severe conditions, offering more flexible protection.
How does Alexanders FA work?
At Alexanders FA, we simplify the home-buying process with expert guidance, ensuring you receive professional support every step of the way.
As an award-winning broker, we offer free mortgage and protection advice tailored to both first-time buyers and seasoned investors. Trust Alexanders FA for a smooth, stress-free home-buying experience.
1
Free Initial Consultation
We’ll review your current circumstances and property goals, evaluating your borrowing capacity to help identify the most suitable mortgage lenders.
2
Agreement in Principle (AIP)
An AIP provides an estimate of your borrowing power. With this in hand, you can confidently explore properties within your budget and make informed offers.
3
Personalised Mortgage Guidance
After your offer is accepted, we recommend the most suitable lenders and mortgage products. We manage every detail of your mortgage application to ensure a seamless experience.
FAQ: Critical Illness Cover
The answers to your questions.
What is critical illness cover?
Critical illness cover is a type of insurance that offers a lump sum payment if you’re diagnosed with a serious illness or medical condition that prevents you from working. This payment is typically used to cover mortgage payments and help maintain financial stability during a challenging time.
How much is Critical Illness cover on average?
The cost of Critical Illness cover varies based on factors such as your age, lifestyle, health, and the length of the policy. We can arrange an appointment for you to speak with one of our advisors, who will help find the best policy that fits both your budget and your coverage needs.
How much Critical Illness cover do I need?
We recommend securing enough Critical Illness cover to maintain your current lifestyle, including covering your mortgage payments, debts, and living expenses. This ensures that if you ever need to use the insurance, you won’t have to make significant changes to your lifestyle.
What does Critical Illness cover?
Critical illness cover usually covers cancer, heart attacks, strokes, organ transplants, multiple sclerosis, among others. Your advisor will be able to give you the exact details for the types of illnesses your policy will cover.
Can you get Critical Illness cover after diagnosis?
It can be difficult to obtain Critical Illness cover after being diagnosed with a serious condition, as most insurers do not cover pre-existing or related conditions. However, this can vary between providers. If you’re seeking coverage after a diagnosis, get in touch with one of our team members, who can guide you through the available options and advise on the best course of action.
Types of Critical Illness Cover
Critical illnesses can strike without warning, affecting anyone at any time.
Having the right cover in place can help reduce the financial impact on you and your loved ones during such challenging times.
Here are the main types of critical illness cover:
Additional Cover Policies
Often combined with level term or decreasing term life insurance, this type of cover can provide a payout upon diagnosis of a critical illness and an additional payout if the policyholder passes away during the policy term.
Combined Cover Policies
Purchased alongside life insurance, these policies offer a single payout. The insurer will pay out either when a critical illness is diagnosed or upon death—whichever happens first—but not for both.
It’s important to note that not all conditions are covered, so reviewing the policy details carefully is essential. While critical illness cover differs from life insurance, you can often purchase both together for more comprehensive protection.
Mortgage critical illness cover offers peace of mind when you need it most. Whether you’re buying your first home, upsizing, or downsizing, it can be a valuable safeguard. To explore your options or get a quote tailored to your needs, it’s advisable to speak with a broker who can help you find the right policy for you and your family.
Reviews
A Genuine Five-Star Experience.
We wouldn’t be where we are without our incredible clients. We take pride in building genuine, one-on-one relationships, offering tailored mortgage advice that suits each individual’s needs.
Jasmine Brown
Allen Whittell
