To keep it as simple as i can,a serious illness policy will pay out a lump sum in the event of a person been diagnosed with a serious illness.
Sorry to be morbid but last year was the most claims i ever had from my clients but at least the policies were there and themselves and their families were covered.
The Most important policy a family has is their Life assurance and serious illness policy and still some people are more bothered with their car or home insurance and forget to protect themselves.
There has never been more illness covered and prices are better than ever for critical illness and accidental cover.
I feel a person needs a minimum of 2 years salary as cover,as it usually takes two years to get over cancer,heart problems etc and this lump sum will help pay bills and day to day expenses .
As a lot of people won’t have a salary if they don’t work,so two years cover is usually best,so if you earn 40k per year,you need to look at about 80k lump sum cover.
There is also ways of claiming tax relief on these plans.
Email me today for quotes or queries at darragh.farrell@yes.ie or
call me direct at 01-6339245