Protect you and your family from critical illness
There are over 64 million people living in the UK but recent statistics suggest that less than 1% of the population has taken out critical illness insurance. This type of insurance covers people who suffer from debilitating medical conditions, such as heart attacks, strokes, HIV and some forms of cancer.
Generally, these conditions will render a person unable to work. Indeed, every year one million people in the UK are forced to take substantial time off work because of illness. For any family – but particularly those dependent on only one salary – the loss of an income can be financially disastrous. With no way of paying mortgage payments, bills or everyday costs, these families may be forced to subsist on welfare allowances. Unfortunately, however, proposed governmental cuts to disability allowances will make this less viable in the near future.
With critical illness insurance, a tax-free lump sum of money will be paid out upon diagnosis of such an illness. This can be used to pay of debts, make mortgage payments or replace a lost income. In short, it can provide an invaluable safety net for you and your family.
Of course, like many insurance policies, the devil is in the details. Many medical conditions will be covered by the majority of policies but some will not. It is essential to consider all of your options and individual circumstances before making your choice. This is, in part, what may dissuade many people from taking out cover. The process is complicated and trying to decide what illness you or your loved ones may contract in the future is an undeniably uncomfortable eventuality to consider.
That is why it may be beneficial to seek out the advice of financial experts to guide you in the best decision. Remember, it is always prudent to choose an Independent Financial Adviser (IFA). Unlike Restricted Advisers, IFAs can offer you a wide range of objective advice from all corners of the market. They are not affiliated with a certain company so you can be reassured that there is no incentive on their part to suggest policies that do not serve your best interests.
And as dentists, it is always worth finding a financial adviser who is aware of and understands the specific financial challenges and particularities of the profession.
The IFAs at money4dentists have been serving the specific interests of dentists since the 1990's. As knowledgeable of the particular financial aspects of dentistry as they are of critical illness cover (and a wide range of other monetary matters), the team of dedicated advisers work closely with dentists in order to give them precisely what they need.
Critical illness can strike at any moment. Don't risk being unprotected if it does: talk to the expert advisers at money4dentists to discuss your options today.
For more information please call 0845 345 5060 or 0754DENTIST.
Email info@money4dentists.com or visit www.money4dentists.com
1. Association of British Insurers (ABI) – Key Facts 2014: Life Insurance 2. Association of British Insurers (ABI) – Insurance and savings: Income Protection and Welfare Reform