We all like to think we’re bulletproof, but it’s important to have financial protection in place just in case we’re not.
If you think you or your family would struggle to cope financially with the sudden loss of income caused by a serious illness or disability, then it’s worth getting advice and quotations from our independent advisers at Engage Wealth Management.
The range of illnesses covered will vary depending on the insurance policy, but often includes things like strokes, heart attacks, cancer, kidney failure, organ transplants and Alzheimer’s to name a few.
Money from a claim can be used for whatever you feel is most important. This might include home adaptations, private treatment, mortgage payments, or just general living costs.
Whatever your situation, our friendly advisers will help you find out whether Critical Illness cover is the right option for you
Arrange a free discovery call with our FCA-regulated policy experts to find out how we can help: [email protected] or 01273 076587
We’ll happily field all your questions and explain in straightforward terms how a policy works – and then do all the hard work for you when you’re ready to proceed.
We begin by getting into the nitty gritty of what would happen financially if you were diagnosed with a serious condition such as cancer, heart attack or stroke.
There’ll be a range of areas to consider, including mortgage or rent commitments, loss (or reduction) of income, time off work for recovery, private treatment considerations and childcare and household adjustments.
Essentially, we need to understand the size of the potential financial shock to ensure we get suitable cover in place.
Unlike life insurance, Critical Illness cover typically pays a one-off tax-free lump sum on diagnosis of a specified condition.
We calculate an appropriate amount based on:
This ensures you receive a payout which provides the right level of financial support, instead of an arbitrary lump sum.
To make things more complicated, Critical Illness policies vary significantly between insurers.
We compare:
We’ll help you understand the full implications of these definitions as they significantly affect both the cost of the policy and the cover you receive.
Once we’ve agreed the structure and sum assured, we research the Critical Illness providers to ensure we find the right policy for you.
We take into account our first-hand experience with different insurers and the added-value services they provide (such as nurse support, second medical opinions, and counselling).
You’ll receive a clear explanation of why a particular policy suits your circumstances.
Critical Illness underwriting can be rather detailed due to the nature of the cover. We guide you through full medical disclosures, GP reports (if required), plus lifestyle factors and occupational risk assessments.
Where appropriate, we can seek pre-underwriting guidance to reduce the risk of unexpected exclusions.
If you ever need to claim, we support you throughout the process. We help clarify medical evidence requirements, liaise with the insurer, ensure definitions are correctly applied and monitor progress until payout.
This might be a very difficult – and possibly life-changing – time for you. We make it our job to ensure the claim works smoothly, so you can focus on the things you need to focus on.
Life events such as moving home, having children or increasing financial commitments may mean your cover needs updating. We remain available to review your policy to ensure it continues to provide meaningful financial protection against serious illness.
Advising on Critical Illness cover requires careful analysis of policy definitions, financial impacts and various coverage options.
Our advisers hold the Diploma for Financial Advisers (DipFA) from the The London Institute of Banking & Finance and the Diploma in Financial Planning (DipPFS) from the Chartered Insurance Institute.
Additional qualifications in mortgages, equity release, long-term care and Pension Transfer Specialist (PTS) permissions allow us to structure Critical Illness cover alongside mortgage liabilities, recovery planning and longer-term financial security – ensuring the lump sum would provide meaningful support at point of diagnosis.
Engage Wealth Management’s Managing Director and Financial Adviser, Oliver McDonald, has himself faced health challenges that required him to claim on his own Critical Illness Insurance policy.
Like anyone, he hoped he’d never actually have to use the policy. However, in 2024, he went to the GP after experiencing unexplained symptoms and was sent to have tests.
“Multiple scans and painful investigations later, they found a kidney that didn’t function,” said Oliver. “So bad, they had to “whip it out” as the consultant described.
“I had a small Vitality plan taken out several year ago. They cover ‘less serious’ issues which meant I could receive 25% of the cover.
“It’s not life-changing money, but it covered the private GP costs and any extra time I needed to take off.
“This could have been a lot worse, especially if I had a manual job. But I knew that me, and my family, would be okay financially.”
Unfortunately, that wasn’t the end of it. Later the same year, Oliver was diagnosed with a brain tumour.
“The tumour was big, and had to be removed. I had surgery in January 2025 and I’ve been recovering well.
“An event like this can be catastrophic. To my family and the business. But we were prepared. I have life insurance, critical illness cover and income protection.
“I made a successful critical illness claim and, thankfully, as things went smoothly, the money is a nice bonus.
“One of the main things is that I can’t drive anymore, so the money is really helping to cover the cost of taxis and other transport when I need it.”
Engage Wealth Management featured in VouchedFor’s Top Rated Financial Adviser Guide, as published in The Times and The Telegraph. We’ve also featured in Sussex Business Times (SBT), Citywire, Financial Planner Life podcast and Fund Your Retirement podcast.
Are you looking to find affordable Critical Illness cover? Contact our professional advisers at Engage Wealth Management via the contact form below.