Independent private health insurance and health cash plans UK

 
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Private medical insurance and health insurance cash plans for the UK
- Introducing Critical Illness - Income Protection - Terminal Illness Insurance -

Subsidises your income if you are not able to work due to a non-critical illness or an accident after a deferred period to a maximum of 50%.Pays a lump sum on the diagnosis of a critical illness like cancer or heart disease.Pays a lump sum when you are diagnosed as having less than 12 month life expectancy. Pays the insured sum after your death to the beneficiary.
It is important to understand that each of these types covers a specific risk and you may therefore need to think about insuring the actual premiums.
Why ? You make a claim on the Income Protection Cover and you have CI and LI insurance. The premiums for these will have to be paid to keep their respective risk cover.
It is important to know that missing a premium payment will waive (eliminate) the respective cover. Below is a simple explanation how premiums are calculated and the difference between flat (fixed and rolling premiums / contracts.

Premium calculation (simplified):

income protection

 With age the risk of you claiming the insurance becomes higher. Thus if wish to run your critical illness until you reach 65 the premium is higher than if you only run it until 55. The premium is flat or rolling and can only increase if you agree inflation adjustment or take advantage of increased cover when you marry or children arrive. Agree an insurance for the complete time and pay a flat fee (fixed) or go for a rolling contract which is recalculated every 5 or 10 years starting with very low premiums that increase each time the critical illness contract is rolled / renewed.

Premium / Term Choice :

life insurance term

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