I hope you’re enjoying some pre-summer sunshine and that your critical illness cover is up to date.
Perhaps not the most agreeable way to start this month’s update! Nevertheless, a topical subject for you, as critical illness cover has received some negative publicity recently. Several policyholders’ claims have been rejected, but if you’re diagnosed with cancer, you need to know yours will pay out. What can you do to bullet proof your policy, as well as your financial security?
At Ascot Lloyd we ensure our clients recognise the significance of full medical disclosure. The ABI (Association of British Insurers) give clear critical illness ‘definitions’ to which all providers must adhere – it’s mandatory. This ‘black and white’ approach makes it fair for everyone.
Some providers go above and beyond the ABI code, offering even more comprehensive protection. The cheapest policy does not always offer the most peace of mind. My clients know the difference, hence their willingness to refer me to their friends, family and work colleagues for an unbiased recommendation.
People pay good money to insure against, for example, a broken freezer, wine-stained carpet or a chipped car windscreen. Although irritating, these events are not life changing, nor likely. Especially when you consider:
- 1 in 3 of us will be diagnosed with cancer before age 75 *
- 1 in 10 males aged 30 will suffer a heart attack before age 65 **
- 1 in 8 females aged 30 will contract cancer by age 65 **
Could you pay for your mortgage, bills and food on £81.35 per week?*** This is your state benefit. Should you be one of the 1 in 3, would you rather lose your house or your mortgage?
Phone me, or my colleague Johnathon, today on 0845 345 5111 for more information. Having assessed your circumstances, we’ll be delighted to make an independent recommendation for your protection needs.
Have a healthy and happy month – see you in June.
* Office for National Statistics, 2002
** GE Frankona Re estimate, 2002
*** Incapacity benefit (long term rate), 2007
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