Is there a minimum or maximum premium for critical illness cover?

Minimum premiums vary from company to company but they can be as little as £5 per month.

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
 

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Is there a waiting period to receive payment on a Critical Illness claim?
All Critical Illness policies require you to survive a specified number of days following diagnosis in order to have a valid claim. The typical survival period is 28 days but some insurance companies have reduced this to 14 days.
The following might help you decide how much cover you need.
How much would you need to repay your mortgage, overdraft, loans or any credit card balances? The freedom that comes from being debt free does wonders for recovery
Can You Include Your Partner On Your Critical Illness Policy?
Yes, as with Life insurance, Critical Illness policies can insure one or two lives.
Will Critical Illness policies permit the use of alternative medicines?
After you have been diagnosed with a qualifying Critical Illness and the claim has been paid you can spend your money however you like. So if you want to spend some of your money on alternative medicines then that’s entirely your choice.
What information will be needed at the time of a Critical Illness claim?
For a Critical Illness claim to be successful the insurance company’s claims department will need evidence that you have been diagnosed as having one of the listed critical illnesses. This evidence will normally come from a Hospital Consultant who is a specialist in the illness which has been diagnosed.
There is no fixed maximum premium for these policies as your premium is determined by the amount of cover being arranged, combined with the details of your age and health etc.

Your main consideration should be to provide yourself with the level of protection you really need to maintain your lifestyle should you be diagnosed with a critical illness.

Only compromise if you think you will be unable to afford the monthly premiums.

Some companies will allow you to increase the sum insured at a later date and this may be exactly the type of flexibility you need.

Frequently Asked Questions related to the above topic.
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