Income Protection Insurance Or Critical Illness Cover

Whereas income protection benefit is designed to pay out a monthly benefit if you re off work due to an illness or injury which results in loss of earnings.

Income protection insurance or critical illness cover. Give us a call on 0117 955 6935 or get in touch and we ll look at your individual situation to prepare a tailored plan to meet your budget and needs. Cancer heart attacks and strokes. Critical illness and income protection premiums are hard to compare side by side due to the fact that they provide a very different type of cover however based on our comparison above which is a fair representation of the sort of options a 35 year old would consider critical illness cover is a little more expensive. You may assume that anyone with a mortgage children school fees to pay their own business or perhaps a holiday home would have a back up plan should something go wrong but this isn t always the case.

Income protection insurance critical illness cover provides a lump sum when you are diagnosed with a covered illness. To help you choose a lifeline that s right for you we look at the difference between critical illness cover and income protection insurance. The difference lies in the fact that critical illness cover is designed to pay out a one off cash sum if you re diagnosed with a critical illness that we cover during the length of your policy. Income protection provides a monthly benefit to pay for your essential outgoings if you are off work due to an accident or illness and the medical evidence confirms this.

Which product best suits our client a lump sum payment from critical illness cover or longer term support from income. Because both types of protection have a few of crossover features. There is no limit to what the policy covers for example you could be off work due to a broken leg cancer or mental illness. This is great if you suffer from such an illness but doesn t provide protection if you were to suffer from a less serious illness such as a bad back which can nonetheless be debilitating.

Because both policy types have been designed to provide financial assistance due to an unexpected illness or injury. Get a quote for income protection or critical illness cover our team of specialist personal insurance experts can guide you through what personal insurance is right for you. The key differences between critical illness cover and income protection insurance are very subtle.