Life And Critical Illness Cover

How will Worldwide help me find life and critical illness cover?

It’s very simple. Our straightforward, dedicated service will help you find exactly the right life and critical illness cover for your needs.

It only takes one call or click to begin finding your life and critical illness cover.

Call your FT award winning independent financial adviser in confidence now on freephone 0800 0112825 or complete the contact form and your dedicated adviser will contact you.

What happens when I contact you?

We will appoint you your own independent financial adviser who will listen carefully to all your requirements and what you want to achieve.

This first consultation with your adviser is without any charge or obligation.

And our fee guarantee means that you won’t pay any fees unless we can help you.

When your adviser knows clearly what you want, they will then research the entire UK life and critical illness cover marketplace to find the very best plan for you.

With access to every single provider and product there is, your Worldwide independent financial adviser can compare all available policies in terms of the benefits and costs to you, so you can be sure you have exactly what you need at the optimum price.

Once you are happy to proceed and apply for your life and critical illness policy, your adviser will ensure that your application proceeds as smoothly and quickly as possible.

Your adviser will assist you with completing all the necessary paperwork and will explain clearly all the implications of the terms and conditions to make sure you are happy about everything.

If any other financial needs arise during your application for life and critical illness cover, Worldwide’s team of financial experts are on hand to assist you with advice about all financial matters from investments to mortgages.

Will life and critical illness cover be useful for me?

Life and critical illness cover will be useful for various people in many different circumstances. The following are some of the most common reasons:

• For most people, life and critical illness cover is taken out when they take out a mortgage, either to cover payments for themselves or to allow their dependents to meet payments

• Some people take out life and critical illness cover to protect payments on any loans or other financial liabilities they have

• Some people in a business partnership take out life and critical illness cover to protect against the death or critical illness of their business partner, with the lump sum paid out enabling them to by out, for example, their partner’s spouse

Your independent financial adviser can advise you whether life and critical illness cover is the best solution for your needs and requirements, and will inform you of any alternatives that are available.

How do I pay for life and critical illness cover?

The usual way to pay for life and critical illness is through monthly premiums. Some people, however, choose an annual premium. Your independent adviser can help you decide which will be right for you.

Will my premiums for life and critical illness cover always be the same?

Not necessarily. You could choose to ‘fix’ your premiums at the same amount over the length of the policy. This is usually referred to as guaranteed premiums. This is likely to mean your life and critical illness cover premiums are slightly higher, but you will have the security of knowing they will not increase at any point.

Alternatively, you could choose to have reviewable premiums. This means that your premiums, whether monthly or annual, will be reviewed regularly, usually every five years.

What restrictions are there likely to be with life and critical illness cover?

Restrictions for life and critical illness cover will be based on your age, health and lifestyle. Providers have maximum age restrictions, which do vary from provider to provider, there are also restrictions if you have suffered previously from an illness or there is a history of illness in your family that may be inherited. This would mean that if you were to develop that illness, your policy would not pay out.

All restrictions should be made clear to you in the provider’s Key Features Document. This will clearly detail the circumstances under which the policy would not pay out, as well as the provider’s other terms and conditions. Your adviser will make sure all this is clear to you before you sign up to anything.

For your part, providers will expect you to disclose all relevant information about your circumstances, health and lifestyle that may affect your policy.

How long will my life and critical illness cover last for?

There will be a set term that your life and critical illness cover lasts for. This may depend on your age or it may depend on your circumstances. For example, you might only want the cover for the length of your mortgage term; when this is finished then your cover will finish.

Some providers may state that your cover must finish by a set date, such as your 65th birthday for example.

When you take out a life and critical illness cover policy you can choose either a level term assurance plan or a decreasing term assurance. A level term assurance means that the policy will pay out the same amount no matter what year in the term you make a claim – for example, if you were insured for £100,000 if you claimed in either year one or year thirty of your policy, you would still receive £100,000.

In contrast, a decreasing term assurance will pay out less each year the policy is held. For example, it would pay out £100,000 in year one which would decrease to £1000 in the last year. This sort of policy is slightly less expensive than a level term assurance. It is usually chosen by people to cover a repayment style mortgage.

If you have any more questions about life and critical illness cover we will be happy to help you.

Call your FT award winning independent financial adviser in confidence now on freephone 0800 0112825 or complete the contact form and your dedicated adviser will contact you.

Remember: You won’t pay any fees unless we can help you.