Compare top UK insurers including SAGA to find the best critical illness insurance quote.
It is important to compare critical illness quotes from lots of different companies, as some insurance companies are much more expensive than others, for exactly the same critical illness insurance policy. That could cost you £1000's.
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There are various types of life insurance policy available. Standard life insurance, critical illness, mortgage cover, single or joint policies over various years. Request a call back from our advisors if you'd like some help.
It's a daunting thought, but with daily expenses and increasing costs in living, it is vital that you secure the future of those you love. Life Insurance will provide a lump sum to help with the mortgage and other household bills.
If you're worried about the risk of being unable to work through serious illness then SAGA critical illness cover could be right for you. With critical illness cover you'll get a cash lump sum paid to you on diagnosis of a critical illness as defined in your policy. You can use the money to pay for whatever you need whether it's to pay off your mortgage, make changes to your home or to provide for your loved ones.
SAGA Critical illness Cover can be used to provide protection in a number of ways. Like Life Insurance, it was primarily designed to help protect immediate family members and possibly other dependents from financial hardship by providing the means to pay off the mortgage on the family home and/or by providing income for the family to maintain their standard of living.
With the improvements in modern medicine leading to higher recovery rates, particularly for cancer which will affect 1 in 4 men and 1 in 5 women by retirement age, Critical illness Cover can also be used simply as funding to cover expensive treatments or an extended period of convalescence before the policyholder returns to work.
As the chances of developing a critical illness are far greater than the chance of dying, Critical illness Cover tends to be 3-4 times more expensive than Life Insurance. Typically, however, a combined policy will work out much cheaper than separate Life Insurance and Critical illness Policies, so much so that often adding a Life Insurance element to a Critical illness policy may add no more than a small increase in the monthly premiums, if any.
Most SAGA critical illness policies cover at least seven major medical conditions including cancer, heart attack, multiple sclerosis, stroke, major organ transplants and kidney failure.
If the policy is to be used solely to cover a repayment mortgage, then a decreasing term critical illness product is usually the best choice, as the amount of money the policyholder has been insured for decreases in line with the value of the outstanding mortgage balance.
Conversely, a level term critical illness product is usually the best choice for an interest-only mortgage, where the value of the outstanding mortgage balance remains constant during the term of the policy.
The amount of cover required is always going to depend on an individual's circumstances. Essentially, you need to work out the financial impact to your family in the event of you becoming critically ill, and how much money they would need to survive until you recover.