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Critical Illness Insurance serves as a lump sum payout in the event of a major health crisis, such as specific types of cancer, heart attack, or stroke. It offers financial protection in the event that you are diagnosed with one of the covered illnesses outlined in the policy. It’s important to note that not all severe illnesses are included in the policy, a point that insurers often face criticism for. However, your policy will contain more detailed information on the specific illnesses covered.
The lump sum received can be used for various purposes, including paying off a mortgage, covering medical expenses, or undertaking necessary home improvements. If you are looking for critical illness insurance in York, our team of expert protection and mortgage advisors in York is ready to assist you.
When considering Protection Advice in York, it’s advisable to consult with a qualified Protection Specialist before obtaining any type of coverage. Critical Illness Cover is more likely to be claimed than Life Insurance, making it potentially more expensive. Exploring mortgage advice in York can assist you in securing the most favorable deal.
The likelihood of surviving the types of conditions covered has increased compared to 30 years ago. However, if you unfortunately fall ill with any of these conditions, it can lead to financial hardship, particularly if you have a mortgage, children, or significant credit commitments.
In some cases, a claim may be rejected because the individual did not disclose specific health conditions during the application process. It’s important to note that this doesn’t apply to conditions that the claimant was unaware of or that were not present at the time of application.
The lump sum is paid out as long as the specified condition is mentioned in the policy, regardless of whether the individual is able to return to work or not. The lump sum is entirely at the discretion of the claimant. As a reputable mortgage broker in York, we often observe individuals using the funds to settle their mortgage, cover medical expenses, or make improvements to their home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
Critical illness cover in York works by providing a lump sum payout if you are diagnosed with a specified critical illness, as outlined in the policy.
Speaking with a mortgage and protection specialist in York is advisable to ensure you receive expert guidance on the most suitable protection options tailored to your needs and circumstances.
Critical illness cover may have higher costs compared to life insurance due to the increased likelihood of claims. Our mortgage advisors in York can help you navigate the policy options by providing insights and assistance in choosing the most cost-effective and comprehensive coverage for your specific situation.
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Start a conversation with our dedicated protection and mortgage advisor in York to explore the insurance options that align with your interests and needs.
Our extensive access to a range of insurance products lets us to identify the most suitable and effective policy to protect you and your family.
We will move forward by submitting your application to the provider. In some cases, the policy provider may require additional information from us to further review your application.
If you’ve secured your mortgage with us, we’ll be in touch when it’s time for you to remortgage. This will provide us with an opportunity to review any existing policies you currently hold.
All our customers are offered a free, no-obligation protection review which involves speaking to one of our Insurance Advisors in York who will assess your suitability as well as look into existing policies in place. Remember, insurance could be very beneficial for your future.
Our qualified Protection Advisors in York, provide a tailored service that can help you find the most suitable cover for you and your circumstances. Furthermore, we understand that affordability is key, which is why we find the type of cover that is fitting for your family’s priorities and budget.
Take a look at our fantastic reviews by heading over to our reviews page. You may find that someone has been in a similar situation to you before and we have been able to help.
If you are looking to take out a menu plan (one or more insurances at once) we can also help with that! All you have to do is get in touch with our team and we can run through some quotes with you.
Obtaining critical illness cover alongside life insurance is beneficial because it provides financial protection in the event of specific critical illnesses, offering a lump sum payout distinct from life insurance, which typically pays out upon death.
Yes, you can purchase Critical Illness cover for both yourself and your partner. This allows both individuals to receive a lump sum payout if diagnosed with a covered critical illness, providing additional financial security.
Critical illness cover differs from income protection in that it pays out a lump sum upon diagnosis of specified critical illnesses, whereas income protection provides a regular income stream if you are unable to work due to illness or injury, regardless of whether it is a critical illness.
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Yorkmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Yorkmoneyman 2025.
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Yorkmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Yorkmoneyman 2025.
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