Critical Illness

Critical illness cover
If you are diagnosed with a critical illness – such as cancer or a stroke – critical illness cover can pay a lump sum to pay off the mortgage or to cover the costs of care. Worrying about where the money is coming from makes a stressful time much worse.

Many policies are sold as reviewable policies because they are cheaper but this can cause problems later in life if premiums are increased at a review. A Guaranteed premium puts you in control, not the Insurance Company. Check your policy details, often people are unaware that this applies.

Did you know…
You are 5 times more likely to suffer from a critical illness, than to die before retirement.
It is estimated that 1 in 3 people are diagnosed with cancer in their lifetimes.
Breast Cancer is now the most common form of cancer around 125 women in the UK are diagnosed each day
There are more than 200 types of cancer, every 2 minutes someone is diagnosed with cancer in the UK
Half of people diagnosed with cancer now survive for more than 5 years
strokes have a greater disability impact than any other disease, 75% of people who suffer a stroke, survive – but 60% of those are coping with a disability.
In the UK 750 people have a heart attack each day.

Typical Critical Illness Claims are as follows:
Cancer – 68%
Heart – 13%
Multiple Sclerosis – 6%
Stroke – 5%
Childs Critical Illness – 3%
Brain Tumour – 3%
Others 2%

Your home may be repossessed if you do not keep up the repayments on your mortgage or any loan secured upon it.
Veracity financial planning is not responsible for, nor does the Financial Services Authority regulate advice given with regard to taxation matters regard to trusts; some aspects of tax advice; commercial mortgages or second charge secured lending.