How much does the critical illness cover cost?

The cost of a Critical Illness policy depends on the amount of cover you need, your personal details (especially your health and age) and the optional extras you select.

STEP 1 of 2
Type of cover
Life Insurance       Mortgage Life Insurance
 
Cover Level (£)

Number of years
Do you want:  
Critical illness cover
Family income benefit
 

Hot Topics

Why do I need critical illness cover?
1 in 5 men suffer a critical illness before their normal retirement age. 1 in 6 women suffer a critical illness before their normal retirement age.
Is there a minimum or maximum amount of Critical Illness cover available?
When you get an quotation, the insurer providing the quotation has agreed in principle to insure you for the sum you have requested. Therefore, you do not need to worry about this issue.
What decisions will you have to make before you can get a quotation?
You will have to make four decisions:
Will you need a medical if you apply for a critical illness policy?
In order to correctly assess the risk they are being asked to accept an insurance company may require further information from your GP or request that you undergo a medical. In most cases these medicals only take five or ten minutes.
What if you develop another critical illness or have a reoccurrence of a Critical Illness ?
After a successful claim the insured sum will be paid to you and that ends the policy. There can be no further claims.
Your age, health, sex, occupation and lifestyle particularly affect your premium. If your family has a history of serious illness such as cancer or heart disease this may also result in you paying a higher premium. All the Critical Illness insurance we offer insures you for Total and Permanent Disability. This means that if you contract any condition or have an accident that totally and permanently prevents you from working, then you have a valid claim.

Critical illness insurance can be chosen as either a “stand alone” policy or combined with Life Insurance.
You should be aware that in order to make a claim, all Critical Illness policies require you to survive for a minimum number of days following the diagnosis of a critical illness. This is known as the “survival period”.
It is usually 28 days but some insurers have reduced it to 14 days.

The advantage of having both Critical Illness AND Life Insurance is that if you were to die within the survival period, your policy would still payout under the provisions of its Life cover. Insurance premiums are not eligible for any personal tax relief although all payouts are tax-free.

Top Tip

It is highly likely that if you combine Life and Critical Illness insurance into one policy it will be cheaper than buying Critical Illness just by itself! How’s that for value!

It happens because the insurance companies can apply various internal company tax allowances to their pricing of combined Life and Critical Illness policies but these allowances are not available for stand-alone Critical Illness policies. It doesn’t always work out cheaper but for most people it is!

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