Critical Illness

Critical illness is a type of insurance that pays out a lump sum if the person insured suffers an illness specified in the policy. You can read our guide to the types of illnesses insurers cover.

The definitions for each illness are set out very clearly by the insurer in their policy documentation.

Critical illness is intended to provide financial protection for individuals where upon suffering a critical illness they could suffer financially - the critical illness policy would pay out allowing them to cover anything from:

• medical expenses
• loss of income
• repayment of a mortgage or loan
• care for dependents

There can be a vast difference in the illnesses covered within critical illness policies, the exact list should be checked on the key facts document for the policy.

Often critical illness cover is combined with a life insurance policy covering both death or earlier critical illness, however many insurance companies will sell stand alone critical illness plans.

As with life insurance, applicants are underwritten by the insurance company based on their age, gender, smoker status, state of health and family history.

How much is critical illness insurance likely to cost?

This very much depends on age, state of health, smoker status, pastimes, height/weights ratio and the type and amount of cover you want.  You can use our online life insurance quote system to run as many different quotes as you need.

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