Critical Illness Insurance
In these times, with improved medical treatments, more people are surviving Critical Illnesses. It is now possible to take out cover, whereby a lump sum can be provided by the insurance company in the event of specific critical illnesses being diagnosed. This would be particularly useful if the policyholder was unable to work or carry out activities of normal daily living, in order to for example repay a mortgage or carry out alterations to the home, such as wheelchair access and stairlifts etc. Critical Illness insurance is often combined with Life Cover policies, in order that the sum assured can be paid out on death or the diagnosis of specific critical illness.

Income Protection
Income Protection policies, also known as Permanent Health Insurance (PHI), are designed to protect the policyholder if he or she is unable to work, and therefore, earn money, due to illness or injury. Different occupational classes carry different risks so premium costs will depend on the policyholder's occupation, as well as their age and the period of time that passes between when the insured becomes unable to work and when the claim is made. Policies and their conditions vary considerably with different insurers, so it is important that the advice of a Financial Adviser should be sought.

MJR Financial Services are not authorised to advise on Long-Term Care, but we can put you in touch with a reputable adviser, who would be able to advise you appropriately.