Serious Illness

What is Critical Illness / Serious Illness Protection?

Most commonly known as Serious Illness, this cover provides a tax-free lump sum payable if you are diagnosed with one of the specific illness or disabilities specified in your policy. It can be taken out on a stand-alone basis and can be added to a life assurance policy (level term, convertible term or whole of life) or on your mortgage protection policy.

When do I need Critical Illness / Serious Illness Protection?

You may consider Serious Illness cover if:

  1. You have no alternative cover for ill health
  2. To ensure your debts (e.g. mortgage, car loans etc) are covered in the event that you became ill and unable to work due to illness.

What is covered under this type of policy?

It is important to note that you are only covered if the illness is specified on you policy and you meet the specified conditions stated in the policy. Specified illnesses on different polices may vary but typically they may include:

  1. Coronary artery disease
  2. Stroke & heart disease
  3. Specified types of cancer
  4. Multiple sclerosis
  5. Motor neurone disease
  6. Kidney failure
  7. Benign brain tumour

NB. It is important to always check the list of illnesses covered before you take out the policy.

What Michael Hannon Financial Services can do for you?

Michael Hannon Financial Services is a large independent brokerage company in Ireland and we deal with many of the major life companies in the State. This allows us to research the market for you and identify the most suitable product to meet your needs and financial objectives, through the companies listed on my terms of business letter.