When you get a quote, there are 2 types of critical illness cover that you can choose from:
Combined cover merges your life insurance and critical illness cover into a single policy. This policy pays out once. This is either when you make a critical illness claim, or when your family make a life insurance claim after you die.
If you make a critical illness claim, both your life insurance and critical illness policies end. So your family won’t get another pay-out after you die.
Additional cover splits your life and critical illness cover into 2 separate policies. You decide how much each policy pays out. If you make a critical illness claim, that part of your policy ends, but the life insurance side continues.
This means, your loved ones get a second payout if you die during your life insurance policy’s term.
Once you've chosen the type of cover you want, there are also 3 levels of cover to choose from:
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"There are 2 types of critical illness cover: combined and additional. Combined cover is often cheaper, but it is designed to only pay-out once, either if you become seriously ill or when you die. Additional cover, however, offers more protection, as this is designed to pay out for serious illness and when you die. Consider your needs and budget to decide which option works best for you."
Most policies will cover you for:
There are also some conditions that aren't usually covered. These are:
But remember that your illness or injury has to be ‘life changing’. Insurers may not cover something like a mild heart attack that has little impact on your day-to-day life.
Some policies may cover a longer list of conditions, so check with your insurer to see exactly what you’re covered for.
Statutory sick pay can help if you can’t work, but it’s unlikely to be enough to cover your loss of earnings. It's also only paid for 28 weeks, so you could be left with no income sooner than you expect.
Offers cover for the over 50s, with acceptance guaranteed up to age 84. No medical or health questionnaires required
Pays out an amount that decreases over time, usually in line with your mortgage
Covers two people on a single policy, paying out if either of you die during the policy term
Covers the cost of private medical care, helping you avoid NHS waiting lists to get the cover you need, quickly
Covers your bills if you're injured or ill and are unable to work. Short term policies and longer ones available
We explain what life insurance is all about, and throw in a few handy hints for good measure.
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Both income protection insurance and critical illness cover can help keep you afloat if you’re ill or injured. But they work in very different ways.
Where critical illness insurance pays out a lump sum to help you focus on your recovery if you become severely ill, income protection is designed to cover your outgoings if you suffer a milder illness or injury. It pays a portion of your salary to help you maintain your standard of living while you’re on the mend. If you have a physically demanding job, but hurt your back and can’t work, for example, income protection can help bridge the gap until you’re fit to work again.
Critical illness cover is designed to ease the financial burden of a life-changing illness or injury, taking some of the stress out of an already stressful situation. What policy you choose to take out depends on what you want to be covered for.
Yes. Some critical illness policies will cover your children at no extra cost. Others may ask you to pay a little extra to cover them.
Cover for a child works in much the same way as an adult. If your child is injured or develops a serious condition, your policy will pay out. But the amount you’ll receive is usually lower for a child than for yourself, with the maximum being around £25,000. This can still help ease some of the financial burden of having a seriously ill child, giving you some breathing space to focus on what really matters – them.
Your critical illness cover runs for as long as your life insurance policy, or until you make a claim.
If you have mortgage life insurance, it’ll run for as long as your mortgage.
If you have level term life insurance, you can choose how long you want to be covered for. Most people tie this to how long their family will be dependent on their income. If you have young children, this could be 20 years, but it could be longer.
You can even get whole life insurance that’ll cover you until the day you die, with added critical illness cover that’ll do the same.
There’s no expiration date for your critical illness insurance. As long as it’s within the cover period of your life policy, you’ll be eligible for a pay-out.
If you reach the end of your life insurance cover term without claiming on your critical illness policy, your coverage will simply end. You won’t be able to get back what you’ve paid in premiums.
The same is true if you pass away during your cover period without having claimed for a critical illness. Your loved ones will get your life insurance pay-out, but they won’t get back what you’ve paid in critical illness cover premiums.
Even so, the peace of mind that critical illness insurance can bring is often worth the extra you’ll pay in premiums. Cover can vary between insurance providers, so it's important to check the level of cover that your policy provides.
Page last reviewed: 01/10/2024
Reviewed by: Matthew Harwood
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