Critical Illness

Critical illness cover is policy which is designed to pay out a lump sum on diagnosis of a serious condition, such as heart disease or cancer.

Why do you need it?

Critical illness cover is often overlooked because it is perceived to be expensive.

However, it is important to note that compared to life insurance it is approximately 4 times more likely that a person will contract a critical illness or make a claim due to total permanent disability.

Advances in medical science mean that more people are now surviving serious illness than in previous years. While this is good news, many people are faced with the realisation that they may not be able to return to work, or indeed, wish to.

Critical Illness is, in many ways, similar to Life Insurance with one big difference ­ the insured is still alive!

Things to bear in mind

Critical Illness plans are built around the most common serious conditions anyone may suffer, such as:

• Cancer
• Coronary artery by-pass surgery
• Heart Attack
• Kidney Failure
• Major Organ transplant
• Multiple Sclerosis
• Stroke

Some policies may include other illnesses such as Alzheimer's and Parkinson's disease. Others include a list of other, less common, conditions, such as blindness or coma.

Critical illness is often bought as an optional extra on a life insurance contract.

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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

We offer all our clients a free initial consultation after which a non refundable commitment fee of £95 will be charged with a further £250 payable on completion based on individual client circumstances. We also offer a fee only option whereby we charge a 2% broker fee on the amount borrowed and any commission derived from the lender is rebated back to the client.

The overall cost for comparison is 7.9% APR

Riverside Mortgages Ltd is registered in England and Wales. Registration Number: 5978086