Liberty Partnership

Financial Advisors Peterborough: What Is Critical Illness Cover?

Financial advisors Peterborough wide are there to talk you through the issues, pros and cons of any aspect of finance. Preparing for major milestones in life, particularly the unknown and unknowable, can be confusing, or even overwhelming. And when you feel overwhelmed, the possibility of making mistakes increases.

This is why investing in the services of an independent financial advisor is a sound choice. Critical illness cover is one aspect of financial planning that will benefit from expert advice from a financial advisor Peterborough. Critical illness insurance will pay out a lump sum of money to you if you are diagnosed with one of the illnesses defined in the policy during its term. Bear in mind that if you fail to pay your premiums, if you cancel your policy, or if it comes to an end naturally, then you will no longer be covered on this insurance; and the money you have paid out to date will be lost. One of the key decisions regarding critical illness cover is the length of the policy. Your financial advisor Cambridge can help you decide this. You might, for example, want your policy to last until your children are grown up, or have finished university. Another option is to keep the insurance going until your mortgage is paid off. The lump sum paid out to you is to make up for the fact that, if you were to fall ill, you would not be able to work. Placing a timeframe on the policy helps ease the worry that you might not be able to meet your financial or familial commitments.

To speak to the best financial advisors Peterborough wide, contact Liberty Partnership Ltd on 01778 342291 or advice@liberty-partnership.co.uk. Because we are not chained to any financial brands, we can offer unbiased financial advice on critical illness cover, life insurance, pensions, mortgages and more. Our services and further details can be found at https://liberty-partnership.co.uk.