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Insurance Information – Serious Illness Cover

01 Jun 2017

Quite a gloomy subject matter this one, but one that we feel needs to be discussed nonetheless. The truth is most people are going to be caught off guard by suffering a serious illness particularly if an illness is not genetic.The chances are getting serious illness cover is the last thing on your mind but it’s very unwise to brush this kind of insurance aside.

A serious illness plan pays a tax-free cash lump sum if you are diagnosed with a serious illness and you are free to spend the money in any manner that you might wish.  The lump sum might meet medical bill costs / allow you to take time off work / allow you to make modifications to the home etc.

The importance

 The value of serious illness cover can’t be stressed enough.   If you suffered a stroke and haven’t purchased serious illness cover, you’ll be left with bills and debts and depending on your financial situation you could find yourself in a very difficult financial position – the harsh reality of modern day life is the bills don’t stop just because your income does.

If you invest in serious illness cover, you’ll be paid a lump sum of money that you can spend however you please from bills to debts to purchasing products that can improve your quality of life. We aren’t exaggerating when we say that having serious illness cover will ensure that your worries are focused on getting better rather than having to worry about the financial implications as well….!

 How it Works

 When it comes to purchasing serious illness cover a surprising number of people are unsure about the true meaning of what they’re purchasing. The plan provides for cover in the event of being medically diagnosed with a very wide range of illnesses (feel free to contact us for a full list of the conditions that are currently covered).

Many factors dictate the premium costs of serious illness cover including pre-existing medical conditions, age, lifestyle and other factors all of which we go over thoroughly with you before settling on an insurance plan.

It is worth stressing that this type of cover is not expensive as you might think – especially for younger lives.  A male non-smoker aged 41 could secure serious illness cover of € 50,000 to age 71 for as little as € 45.51 per month on their next birthday.

We would also argue that it is better to have a modest level of cover rather than have none at all.

^ Royal London Rates as at 1 June 2017.    Premiums guaranteed to remain unchanged for the full plan term

How We Can Help

 If you approach us we can talk you through the variety of options that are available to you when you decide you want to look into gaining serious illness cover. Our primary goal is to select a plan that will provide you with the best possible cover at the best possible price. We’ll talk you through all the logistics and ensure you know exactly what illnesses are covered by the insurance we decide on together.

A Final Word

 Serious illness cover often flies under the radar but we highly recommend purchasing it since we never know what around the corner! You can read up some more about serious illness cover on our products and services page or if your mind is made up don’t hesitate to go to our contact page and we can discuss getting you covered in no time!

Full Circle Financial Services Limited is regulated by the Central Bank of Ireland – C130136