Getting value for money on Critical Illness Cover

Getting value for money on Critical Illness Cover

Have you found Critical Illness to be out of your budget? Here at The Cheapest Life Insurance we are able to offer a more affordable option…

If you are looking to cover your mortgage, while many Banks, Brokers or IFA’s will quote you Critical Illness cover for the full sum assured of your mortgage, for example could be £200,000, this could be highly unaffordable or could be stretching your budget too far. An alternative of this could be to cover you on death for the full sum assured, the full £200,000 of the mortgage, and to cover your salary for a year or two for Critical Illness. This will massively reduce your costs and will give you the financial support for you to fund yourself for a year or two during your rehabilitation if you were to get diagnosed with a Critical Illness.

Based on a 42 year old Male non-smoker – the £200,000 Life and Critical Illness cover over 20 years would cost nearly £100 per month. By keeping your life cover at £200,000 and reducing your Critical Illness down to £50,000, your monthly premium would be just under £40 per month – 40% of the original cost. This is a saving of almost £15,000 over the policy term – so why not have that round the world cruise or new conservatory on us!

Without knowing this vital piece of information, many customers would go without when it comes to Critical Illness, but the facts speak for themselves:

  • 26 times more likely to pay out that normal life cover at only 5 times the cost
  • Average age for a claim is just 43
  • Children can also be covered without an extra cost

Here at The Cheapest Life Insurance we pride ourselves on sharing the tips and tricks you need to know to get the policy right for you. If you don’t know the options, how are you are you meant to get the best deal…

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