Following his brother's diagnosis and recovery from throat cancer last year, Bob wants to take out some critical illness (CI) cover for himself. Bob is 47, drinks moderately but has a body mass index (BMI) of 32 despite being physically active by cycling to work twice a week. What cover would you recommend for him?
Peter Chadborn, CBK Colchester If the cover is required to serve a particular purpose such as protecting a mortgage, the level of cover and term will be obvious. If not, it is likely that Bob would need CI cover until his retirement age or beyond. Rather than just ‘order taking’, detailed discussion could reveal whether Bob’s primary concern is to protect his income, in which case income protection (IP) should be recommended in addition to CI. IP should complement any employer benefits, the time Bob could survive financially without income and be sufficient to meet outgoings. LV= has...
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