(Client names and details have been changed for privacy).

Edward had always been a doer. As the founder of a busy construction firm, his days were a whirlwind of site visits, client meetings, and managing a large team. His health was the last thing on his mind. He was in his late 40s, fit, and believed his drive and determination were enough to overcome any obstacle. He had the business finances meticulously planned, with cash reserves and a solid investment strategy. But there was one scenario he hadn't fully considered: what if his biggest asset – his health – failed him?

The diagnosis of a severe heart condition came as a complete shock. Suddenly, his bustling world of hard hats and blueprints was replaced by hospital corridors and medical appointments. The treatment would be lengthy, and the doctors were clear: he would be out of action for at least a year. The physical recovery was paramount, but a deep, suffocating financial fear began to set in. How would he manage the household bills? What about the mortgage? And could his business survive without its driving force? He had sick pay for his employees, but who would pay him?

In this moment of overwhelming uncertainty, he remembered a discussion with Richard Hadley from Goodniss. Years earlier, Richard had introduced him to the concept of Critical Illness Cover for business owners. At the time, Edward had been preoccupied with profit and loss, dismissing it as a luxury he didn't need. However, after Richard's clear explanation of the benefits and his recommendation, Edward decided to go ahead with a policy.

"Edward," Richard had said, "You've built a strong business, but what happens if a serious illness stops you from working? The financial impact can be just as devastating as a fire or a lawsuit. Critical illness cover isn't just a policy; it's a financial lifeline for you and your family."

Richard had explained that the policy would pay out a tax-free lump sum upon the diagnosis of a specified critical illness. This money could be used to pay off the mortgage, cover living expenses, or even fund private medical care, providing peace of mind and the freedom to focus entirely on recovery without the immense pressure of financial worries.

As with all insurance policies, terms, conditions and exclusions apply. Individual outcomes may vary depending on your circumstances and the insurer’s criteria.

When Edward called Richard, there was no "I told you so," only a calm, reassuring voice. "This is exactly why we planned for this," Richard said. "That money will give you the breathing room you need to get better."

The claims process was handled efficiently by Richard and his team. The lump sum from the policy arrived quickly. It was a lifeline. Edward was able to pay off his mortgage, eliminating his largest monthly outgoing, and could use the remaining funds to cover living costs, which eased the financial stress on his family. His business was able to continue with a manager stepping up in his absence, but the personal financial pressure on him was gone. He could now focus completely on his recovery without having to worry about money.

The tax treatment of the benefits will depend on your personal circumstances and should be discussed with an accountant.

For Richard, it was another powerful example of how his work makes a tangible difference. It’s about more than policies and premiums; it’s about providing security and a chance for people to rebuild their lives after a health crisis.

Don't Let an Unforeseen Illness Jeopardise Your Livelihood.

Critical illness cover for business owners is a vital part of a comprehensive financial plan. It provides a crucial lump sum payout, offering the financial freedom to navigate a health crisis without the added burden of economic hardship.

Policy features, exclusions, and eligibility criteria apply; outcomes depend on individual circumstances. Critical illness definitions and coverage can vary significantly by insurer.

Are you confident your financial plan could withstand a serious health crisis?

Contact Richard Hadley at Goodniss Specialist Protection & Insurance Advisors today for a confidential, no-obligation discussion. Let us help you put the right plan in place to protect your business and your family's future.