Under a combined Life Insurance and Critical Illness policy, is the value of cover the same for both the Life and Critical illness provisions?

The sums insured are usually the same but they don’t have to be.

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

What could Critical Illness cover be used for?
Anything you want. Medical expenses, repaying the mortgage, making your home easier to live in, school fees, general living expenses, but to name a few.
How long should you insure for?
20 to 25 years is most common but it really depends on how much you can afford and your personal circumstances.
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 happens if your condition improves after making a claim on your Critical Illness policy?
Once the insurance company has paid you the money is yours to spend how you like. The policy is terminated and your insurer has no interest on how you live your life or indeed whether your condition improves or is healed.
If your combined Life and Critical Illness policy is specifically used to protect a mortgage, then yes, the sum insured should always be the same for both the Life and Critical Illness provisions.

If you obtain a quotation for a Life and Critical Illness policy, then the quotation will normally be based on the same sum insured for both the Life and Critical Illness provisions.

However, if for any reason you do want the insured sum for Life to be different to the insured sum for Critical Illness, then tell ClickLife when they phone you. They'll sort it all out for you !

Frequently Asked Questions related to the above topic.
Click below if you wish to read them: -