Serious Illness Cover Vs Critical Illness Cover

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Critical illness can strike at any time.

  • 1 in 2 people in the UK (born after 1960) will be diagnosed with some form of cancer during their lifetime. [1]
  • Every 7 minutes someone will have a heart attack [2]
  • Every 12 minutes someone will have a stroke [2]

Serious Illness Cover from Vitality helps protect you financially if the worst was to happen to you, and you fall ill with one of the 178 conditions that they cover. They pay out a cash lump sum based on the severity of your condition. It gives you financial stability allowing you plenty of time to recover.

Serious illness cover works differently from typical critical illness cover, in the way it pays out on less severe conditions as well as the more critical ones. So if you get ill and need to claim, Vitality will give you a percentage of your cover depending on how severe your condition is. This means that if a condition gets caught early on, a portion of your cover will be paid out. You’ll also have the rest of your cover should you need to claim in the future.

There are two types of serious illness cover offered by Vitality. Comprehensive and Primary. Comprehensive Serious Illness Cover covers you for 178 conditions and Primary Serious Illness Cover which covers you for 145 conditions.

Example, Eye to age 70.

Condition Percentage payout Primary     Comprehensive
Blindness (permanent & irreversible) Severity A – 100% (most severe) ✔ ✔
Severity B – 75% ✔ ✔
Significant Visual Impairment Severity C – 50% ✔ ✔
Central Blindness Severity D – 25% ✔ ✔
Blindness in one eye Severity E – 15% ✖ ✔
Corneal Transplant Severity F – 10% ✖ ✔
Severity G – 5% (least severe) ✖ ✔

Source: How does Serious Illness Cover on the VitalityLife plan compare?, August 18

Our expert protection advisers can arrange the correct life insurance policy for you. Call 01224 316200 or fill in our online enquiry form.

Request a Callback

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Sources: Vitality, Serious Illness Cover Frequently Asked Questions, 2018

  1. Cancer Research UK, 2018
  2. Heart UK, 2018

Lifetime Finance Group Ltd trading as Aberdeen Mortgage Company is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products.

Lifetime Planning Limited. Registered office 1st floor, 207 Bath Street, Glasgow, G2 4HZ.

Could Global Treatment save your life?

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Serious illnesses like cancer and heart conditions are all too common. While our country’s healthcare system is advanced, sometimes the very latest treatment options may not be available in the UK.

  • There are currently around 6,000 people on the UK Transplant Waiting List. Last year over 400 people died while waiting for a transplant [1].
  • 1 in 2 people in the UK born after 1960 will be diagnosed with some form of cancer during their lifetime [2].
  • Everyday in the UK, 530 people suffer from a heart attack [3].

Global treatment from Aviva is designed to give you and your child more treatment options in case either of you are diagnosed with a serious illness. It provides you with access to medical experts around the world, an expert second opinion and overseas treatment.

What’s covered?

Global treatment covers you and your eligible children, if diagnosed with a serious illness, for the cost of medical treatment in respect of the following:

  • Cancer treatment
  • Coronary artery bypass surgery
  • Heart valve replacement or repair
  • Neurosurgery (for conditions like benign brain or spinal tumours)
  • Live-donor organ transplants
  • Bone marrow transplant

Travel and Accommodation

  • Global treatment also pays for and organises travel and 3-4-star accommodation for you and a companion. If it’s your child who is ill, Global treatment will pay the expenses for both parents (or a parent and a companion).

Cash allowance

  • There’s an upfront cash allowance of £100 per day of hospitalisation overseas for up to 60 days.

Medication

  • Global Treatment also covers ongoing medication costs up to £50,000, on return to the UK for approved medications that are not funded, or only partially funded by the NHS.

How much does Global Treatment cost?

Global Treatment is an additional option with any Aviva Protection cover. The benefit costs £4 a month per person but also covers the policyholder’s children.

Who to contact

Speak to our expert protection advisers about getting the right life insurance policy for you, call 01224 316200 or fill in our online enquiry form.

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Source: Aviva – Global Treatment provided in conjunction with Best Doctors® and BDUI®, 2018

[1] NHS https://www.nhsbt.nhs.uk/what-we-do/transplantation-services/organ-donation-and-transplantation/, August 2018
[2] Cancer Research UK, August 2018
[3] British Heart Foundation, CVD statistics – BHF UK Factsheet, August 2018

Lifetime Finance Group Limited trading as Aberdeen Mortgage Company is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products.

Lifetime Finance Group Limited. Registered office 1st floor, 207 Bath Street, Glasgow, G2 4HZ.

8 out of 10 mortgage holders have no Income Protection. Are you one of them?

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According to a recent article in FT Adviser, “Homeowners in Britain are woefully under-prepared in the event of long-term sickness, accident or ill health.”1

Nobody plans to get hit by a bus but these things do happen. Should you be left unable to work do you have a plan in place to keep paying your bills and mortgage?

Royal London’s recently commissioned State of the Protection Nation research highlights that only 19% of people with a mortgage have income protection in place, which leaves 81% unprotected!2 Is this you?

While you’re probably aware of the benefits of protection, the expertise of an adviser can help steer you in the right direction to ensure you’re protected when you need it most. If you take a look at LV=’s Risk Reality Calculator it will show you the likelihood of needing to claim on income protection, critical illness cover and life cover based on their research.

But it’s not only mortgage holders that need protection in place, renters need income protection just as much as homeowners. After all, the chances of an accident or illness making you unable to work don’t go away just because you rent!

Contact us today to see how we can help you find the right income protection policy for your needs, our panel of providers can offer something for everyone.

Call 01224 316200 or fill in our online enquiry form.

Request a Callback

Sources:
1: FT Adviser, 8 out of 10 mortgage holders have no income protection, May 2018
2: Royal London, State of the Protection Nation, May 2018
3: LV= Risk Reality Calculator http://riskreality.co.uk/gen

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Lifetime Finance Group Limited is a trading name of Aberdeen Mortgage Company which is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products.

Lifetime Finance Group Limited. Registered office 1st floor, 207 Bath Street, Glasgow, G2 4HZ. Registered in Scotland No: SC589768.

What does the Base Rate increase mean for your mortgage?

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Today, the Bank of England has increased the base rate from 0.5% to 0.75%. This is only the second time in a decade they have increased the rates and it is the highest level since March 2009.

What does an interest rate rise mean for your mortgage?

  • More than 3.5 million residential mortgages are on a variable or tracker rate.
  • The average standard variable rate mortgage is 4.72%.
  • On a £150,000 variable mortgage, a rise to 0.75% is likely to increase the annual cost by £224.

Sources: BBC, UK Finance, Moneyfacts, Nationwide Building Society, August 2018

Should I switch my mortgage?

There are a number of factors that affect whether you should switch your mortgage.

If you are currently on a standard variable rate or tracker rate, you should consider looking to switch to a fixed-rate mortgage. A fixed-rate mortgage means you know your exact monthly mortgage payment without the worry of whether the interest rate might increase.

If you are currently on a fixed-rate mortgage, we can review this mortgage up to 3 months prior to expiry. It can be with your current mortgage lender or with a new lender – depending on what best suits your personal needs.

Are you paying too much on your mortgage every month? Speak to our expert advisers.

What would you do with the money you save? You could pay your mortgage off quicker, a home improvement, or book a last-minute holiday.

With expert knowledge, we often have access to exclusive deals and lenders that are not available on the high street. We scour our panel whilst considering your personal circumstances and presenting the most suitable solution for you. Aberdeen Mortgage Company has access to a comprehensive lender panel and it is our duty to ensure that we provide a competitive deal for you.

Call 01224 316200 or fill in our online enquiry form.

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Your property may be repossessed if you do not keep up repayments on your mortgage.

This firm charges a fee of up to £395 for mortgage advice. The amount of fee will depend on your circumstances and will be discussed and agreed with you at the earliest opportunity.

Aberdeen Mortgage Company Ltd is an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products. The Financial Conduct Authority does not regulate some forms of Buy to Let.