Did you know, that 89%* of homeowners surveyed believe that owning their own home is important for a reasonable standard of living. Yet only 20%* of these have a critical illness plan. It seems that, for most, owning their own home provides a great sense of security but, unless it is protected, it will be a false one.
Price is still the major barrier for those who don’t have insurance to provide in the event of a critical illness, sickness, accident or disability.
Lots of clients will quote for life and critical illness cover on the full amount of their mortgage liabilities. This can be expensive. You may not know that you can quote on a reduced amount of critical illness cover. This will bring premiums down and possibly make them affordable to you.
If you have previously had a quote and dismissed cover due to price we may have some other options for your to consider.
Consider family income benefit
It’s often cheaper than lump sum cover and may provide a safety net when you need it the most.
Consider a reduced lump sum
Some cover is better than no cover at all
If you would like to have another look at your critical illness cover and family protection please contact Adam Cook or your consultant.
*Ipsos MORI interviewed a nationally representative sample of 2,024 adults aged 16+ across Great Britain, between 11th and 16th December 2008.Interviews were conducted using an in-home face to face survey.
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