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Critical Illness Cover

Critical illness cover provides valuable protection for your mortgage, whether it's on an interest-only or repayment basis. It offers financial security in the face of serious illnesses, ensuring that you can continue meeting your mortgage commitments during challenging times.

With Critical Illness Cover:

  • Peace of Mind: If you're diagnosed with a critical illness covered by the policy, you'll receive a tax-free lump sum payout. This financial injection can be used to pay off your mortgage or cover ongoing mortgage payments, alleviating the burden on you and your family during a difficult period.

  • Mortgage Flexibility: Whether you have an interest-only or repayment mortgage, the critical illness payout gives you the freedom to decide how to use the funds. You can choose to fully or partially repay your mortgage, allowing you to focus on recovery without worrying about mortgage arrears.

  • Versatile Coverage: Critical illness cover typically includes a wide range of serious illnesses, such as cancer, stroke, heart attack, and major organ transplants. It's designed to offer comprehensive protection, ensuring you're prepared for various health scenarios.

  • Additional Benefits: Some critical illness policies offer additional features, such as partial payments for less severe illnesses or injuries. This means you may receive a portion of the coverage amount for specific conditions, providing financial support even for less severe health issues.

  • Peace of Mind for Loved Ones: By having critical illness cover in place, you protect your family's financial well-being in case the unexpected happens. Your loved ones won't have to worry about mortgage payments if you face a serious illness.

  • Tailored to Your Needs: Critical illness policies can be tailored to suit your specific requirements. You can choose the coverage amount and duration that best aligns with your mortgage and financial goals.

Considering the unpredictability of life, having critical illness cover to protect your mortgage is a wise decision. It ensures that your home remains secure, regardless of the mortgage type you have chosen. It's essential to carefully review policy details and seek advice from experts like Austin Friars to find the most suitable critical illness cover that fits your unique needs and provides you with the utmost peace of mind.