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MediFinancial - Critical Illness vs Income Protection
Critical Illness vs Income Protection
The difference between these types of protection can sometimes come into question, so MediFinancial have created a table with the comparison between Critical Illness Cover and Income Protection.

  Criticall Illness Insurance Income Protection Insurance
What's covered? Only critical illnesses specified in the policy. Some of these illnesses might have to be judged severe enough for you to qualify for a payout. Most illnesses or disability severe enough to prevent you from working, including stress or back problems.
How are payouts made? You’ll usually get a single lump sum payment directly to you. After a qualifying period, you’ll get regular payments.
Can you claim more than once? No. The policy only pays out for one claim, which is for the total amount of cover, eg £50,000. This is usually paid as a lump sum but can also be taken as regular income if it is set up under what’s called a ‘family income benefit’ policy. Yes - you can make as many claims as you need during the term of the policy.
Are payouts tax-free? Yes. Yes - unless it's an employer scheme - in which case your payments will be taxed as normal.
How is a payout calculated? You are insured for a certain amount, eg £50,000, which can be paid out at any time during the term of the policy if you make a successful claim. Payments are a percentage of your earnings - usually a maximum of 50% to 65%.
What's not covered? Alcohol and drug-related illness Alcohol and drug-related illness
  Pregnancy-related illness Pregnancy-related illness
  Pre-existing medical conditions Pre-existing medical conditions
Pros? You can choose the amount of cover you want – it’s not linked to your income. It’s especially useful if you’re self-employed and do not benefit from an employer’s sick pay scheme.
  The lump sum you get if you claim can be big enough to pay off your mortgage, loans, etc. Given that it could potentially pay out for many years, it is very cost effective.
Cons? Complex definitions of cover have led to complaints that the products are not easy to understand and exclusions are not fully explained. For example only some types of cancer at certain stages are covered. Premiums are based on your occupation. If you change jobs you’ll need to review the policy.


Long term Income Protection, covers most occupations, up to 70% of annual taxable income (ATI) - most other providers only offer up-to 60%.

Posted by: Anne Barker on 08 Jun 2015

General Buyer Terms

This agreement is in relation to MediEstates Limited whose registered office is at 1st Floor, Pacific House, Stanier Way, Wyvern Business Park, Derby, DE21 6BF acting for and on behalf of our clients ("the Vendors"); and yourself (Buyer's Name) in relation for an introduction to a prospective sale of a business as a going concern. By registering through this agreement I agree to all terms set out below:

  1. Definitions
    In this Agreement the following terms and phrases shall have the following meaning unless the context otherwise requires:

    Business
    Dental Practice business providing dental care. This business is under the MediEstates Ltd sale terms.
    Confidential Information
    Means the actual Vendors identity and all confidential information in respect of the Business, including, but not limited to, any ideas, business methods, prices, accounts, finance, marketing, research, development, manpower plans, processes, market opportunities, intentions, design rights, product information, customer lists or details, employees’ details, trade secrets, computer systems and software, and other matters connected with the products or services manufactured, marketed, provided or obtained by the Vendor, and information concerning the Vendor’s relationships with actual or potential clients or customers and the needs and requirements of such clients’ or customers’ operations.
  2. Obligation of Confidentiality
    The Prospective Purchaser agrees to treat as confidential, information supplied by or on behalf of the Vendor in connection with the sale of the Business.
  3. Exclusions
    The obligation of confidentiality set out in clause 2 does not apply to:
    1. any information received from a third party who was legally free at the time of disclosure to disclose it;
    2. any information which was already lawfully in the Prospective Purchaser’s possession prior to receiving it from MediEstates Ltd on behalf of the Vendor; and
    3. any information which is in its entirety already in the public domain.
  4. Duties of Prospective Purchaser
    1. The Prospective Purchaser shall take such a reasonable security measures to protect the Confidential Information and trade secrets.
    2. The Prospective Purchaser shall not, without the prior written consent of the Vendor, permit any of the Confidential Information:
      1. to be disclosed, other than in confidence to its legal or professional advisors;
      2. to be copied or reproduced;
      3. to be commercially exploited in any way;
      4. to be used for any purpose other than in connection with the prospective purchase of the Business;
      5. MediEstates is registered under the Data Protection Act 1998. Upon Signing this agreement you agree to follow the legal obligations of this act to protect the details of the information supplied to you, with it no to be passed outside of the control of you the prospective purchaser.
    3. The Prospective Purchaser agrees to keep a record of Confidential Information received.
    4. The Prospective Purchaser will return to MediEstates or the Vendor all documents containing Confidential Information and all copies of those documents on demand at any time which are in its possession or under its control, and for this purpose the term “documents” includes computer discs and all other materials capable of storing data and information. The Prospective Purchaser agrees that such documents remain the property of the MediEstates on behalf of the Vendor.
    5. The Prospective Purchaser must not jeopardise or re-direct the sale under any circumstances.
    6. The Prospective Purchaser must not contact the Local Area Team or CCG regarding any practice sale, by any means of media unless written permission is granted from the Vendor.
    7. To carry out own due diligence on practice purchases and accepts that any information MediEstates has supplied is information provided by the vendor and is not responsible for its accuracy or completeness.
  5. This Agreement
    The existence of this Agreement and its terms are confidential and neither MediEstates nor the Purchaser may disclose anything about this Agreement or its subject matter or implementation to any person other than in confidence to their legal or professional advisers.
  6. Duties of Prospective Purchaser
    When buying Dental practices, finance is normally needed. Our organisation operated over more than one of the MediHoldings brand, by completing this from you agree that the information can be shared to our other organisations to avoid the need to register independently and provide the best possible service.

    MediEstates will refer you to the specialist dental lending team and MediFinancial who will contact the necessary banks, whom have preferential healthcare lending rates in some cases, to ascertain which funding is available to you.
    By signing this agreement you do not have to use any of the banks MediFinancial contact, it is just another service which we provide.
  7. Deposit for Dental Practice
    If you are interested in putting forward a formal offer in for a practice, once the offer is accepted there will be a deposit required to secure the practice sale which is dependant of the practice size. This deposit is held in a client account and will be returned to the buyer on completion of the practice sale. You the buyer, will be required to sign a deposit schedule which will cover the buyer and the seller in the event that the practice sale does not proceed.
  8. Changes to this Agreement
    Any changes made to this agreement must be authorised and signed by one of MediEstates Ltd Directors.
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