Critical Illness cover means that your financial position would be protected if you were to become too ill to work and lost your income. Here’s some information on the cover provided by the top companies in the UK today. If you would like to get a tailored quote, just click get a quote to get in touch with an advisor now.
try {
window._mNHandle.queue.push(function (){
window._mNDetails.loadTag(“687458262”, “300×250”, “687458262”);
});
}
catch (error) {}
Aviva
Zurich
Key Points
Cover Up To
Type of cover
Royal London
Key Points
Cover Up To
Type of cover
Legal & General
LV
Critical illness cover is a kind of sickness insurance which could help protect your future and your loved ones. If you have critical illness insurance and you’re diagnosed with a serious illness, you’ll receive a tax-free payout.
There are several choices to make when choosing a policy.
Lump sum vs income based
You can choose to either receive a lump payment should you be diagnosed with a covered condition, or have a percentage of your income provided instead. Not all policies offer both as options though so your preference may dictate which provider you go with.
Long term vs short term
Policies can cover you for just a few years or a short period of time, or a much longer period. Costs are obviously heavily influenced by the length of your cover so balancing the cost vs potential payout is a key decision to make.
Who is covered
Some providers allow you to choose whether to cover yourself, your partner, or your children.
Different providers will cover different illnesses. Most cover heart attacks, strokes, and various forms of cancer, but be sure to check the list of covered conditions and make sure it covers everything you expect before you decide which policy to take out.
What you spend it on is up to you but it can be used to cover mortage payments, credit card debt, living costs, lost earnings, private treatment – whatever you choose.
Life Insurance is a payout made to your loved ones should you die. Critical Illness is a payout made to you upon diagnosis of a life-changing illness that isn’t likely to result in your death.
No, in the UK critical illness cover only pays out once.
The amount of cover you need will be dictated on your living costs and those who are financially dependent on you. Ideally you should choose a cover amount that will allow you to carry on living in a comfortable way and not feel stressed by money while you adjust following your diganosis.
Yes, many policies allow you to choose a single or joint policy.
We include an example of several of the most popular critical illness cover providers who you can get a quote from via a Financial Conduct Authority (FCA) regulated broker who we may introduce you to if you request a quote. We keep the information on this page up to date, but you will get a tailored quote from the broker we introduce you to.
If you choose to take out a policy, we may be paid a commission by the broker.
