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SERIOUS ILLNESS COVER

 How will you pay your mortgage if you are unable to work for a long period of time due to suffering from a serious illness such as a heart attack, stroke or cancer? If you are the sole income earner, will you be able to cope financially and run your household as usual?

Serious illness cover, or critical illness cover, insures you in the event that you contract an illness that will drastically change your life. A lump sum will be paid to you two weeks after you receive a diagnosis. Some policies pay out a smaller sum in the event that you are diagnosed with a less serious illness.

Serious illness cover can help contribute to your medical bills, buffer against lost income, go towards home adaptations and even pay off your mortgage.

Book Your Life Assurance and Protection Consultation with The Finance Shop

SERIOUS ILLNESS COVER FAQ

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  • WHAT IS FINANCIAL PLANNING AND WHY IS IT SO IMPORTANT?
    Simply put, financial planning allows individuals to reach their life goals through proper financial management. A proper financial plan is a system that allows an individual or a family to effectively save for the future.A financial plan may also include low-risk investments that help to maximise your savings. A financial plan is important as it helps ensure financial stability and helps wealth appreciate over time.
  • WHEN SHOULD I START PLANNING FOR MY RETIREMENT?
    You should start planning for your retirement as early as possible. Our Retirement Planning Limerick services advice on modern private pensions, and give information on what your monthly contributions should be. It's never too early to begin planning your pension, so please feel free to schedule a consultation with our Limerick team of retirement planning experts.
  • DO I NEED A FINANCIAL PLANNER?
    Yes, our Financial Planning Limerick experts work closely with our clients to create a financial plan that is achievable, realistic and is as tax efficient as possible. We’ll access your finances, identify what you want to save for i.e. property, child’s education, higher standard of living, etc. We will then create a fully customised financial plan that's designed around your wants, requirements and income.
  • WHY SHOULD YOU TAKE OUT SERIOUS ILLNESS COVER?
    Unfortunately in Ireland, 1 in 4 women will be diagnosed with cancer at some stage of their lives. This rate rises to 1 in 3 for men. Every year in Ireland there are over 20,000 new diagnosed cases of cancer. Also over 10,000 people suffer a stroke in Ireland every year. Therefore it’s extremely important for everyone to at least consider serious illness cover.
  • HOW CAN SERIOUS ILLNESS COVER BE SET UP?
    This type of cover can be set up in a variety of different ways. The two most popular types of cover are: - <span style="font-weight: bold;">Stand Alone</span>: As the name suggests, this is serious illness cover on its own with no life insurance attached - Accelerated: Accelerated Life insurance cover is serious illness cover provided with life cover and mortgage protection
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