PPS Financial Planning
Call: 061 484425
info@ppsfinancial.ie
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Serious Illness Cover

Specified Serious Illness Cover

Serious Illness Cover provides you with a lump sum if you are diagnosed with one of the serious illnesses listed on your policy. Suffering from a serious illness is challenging enough for anyone without having the financial pressure and stress that often accompanies it. Serious illness cover can be used to clear loans and give you financial peace of mind during a very difficult time. Serious illness cover can be easier to get in comparison to Income Protection as it does not cover as many illnesses. Serious Illness cover typically covers illness such as heart attack, cancer, Alzheimer’s disease, etc. The premium does not qualify for tax relief, but the lump sum benefit on payment is not subject to taxation. It is important before you take out the cover to get the list of illnesses that the insurance provider covers so that you are aware of what you are covered for. Different insurers cover different illnesses with different severity restrictions. Serious illness cover can be added to your life cover or mortgage protection plan as an additional benefit.

Is Serious Illness for you?

Personally, I prefer income protection as it covers any illness or accident of such severity that it prevents you from working. For example, if you suffered from a back injury that prevented you from working your Income Protection would cover you whereas a back injury would not be considered a ‘serious illness’ unless it involved paralysis for example. However Serious illness cover can be a good option for those who cannot get Income Protection cover due to their type of occupation or due to pre-existing illnesses. Serious Illness can be taken out in addition to income protection.

How Much does it cost?

The cost of serious illness cover depends on many things including:

  • Your age
  • The amount of cover you wish to have
  • How many people you wish to cover, it could be for just yourself or you could have dual cover which would cover your partner also
  • The length of the term of the plan

Please feel free to call us to discuss what is the best option for you and to get a quote if you wish.

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Services

  • Financial Planning
  • Savings and Investments
  • Retirement Planning
  • Business Protection
  • Income Protection
  • Life Cover
  • Serious Illness Cover

Fully Regulated

Public and Private Sector Financial Planning t/a PPS Financial Planning is regulated by the Central Bank of Ireland.
Registered in Ireland No: 530798

PPS Financial Planning is a trusted financial advisor who builds client relationships that last.

Unit 4C Courtfield Shopping Centre,
Raheen, Co. Limerick, V94 XW88
061 484425
info@ppsfinancial.ie
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