Should you include Terminal Illness Insurance?

You probably won’t need to - most policies include Terminal Illness cover free of charge on all Life and Critical Illness policies.

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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Where can I find help?
To help you find your question, we have organised our FAQ’s into relevant groups. Answers to all sorts of more general questions are found in the General Questions section.
What is Life Insurance?
Life Insurance is also known as Term Insurance.
What do you need to know about Life Insurance?
Life Insurance pays out a tax-free lump sum if you die; there is no investment value.
Is there any investment value in your policy?
No. Once the term is completed the policy simply ends. It’s a bit like car insurance!
Should you have a “Guaranteed” or a “Reviewable” policy?
With a Guaranteed policy your insurance company Guarantees never to increase the premium at any time during the policy’s term.
Terminal Illness cover gives you the added benefit of knowing that if you are diagnosed with a serious illness and were expected to die within a year, then life policy will pay out straight away rather than waiting for you to pass away.

This clearly has positive advantages. For example, removing the worry of mortgage payments at a difficult time, paying off debts or simply providing a lump sum to make life more comfortable.

You may also wish to consider Critical Illness cover. This provides far more extensive insurance cover than just Terminal Illness cover. We advise you to understand the difference between Critical Illness and Terminal illness cover and then make up your mind.

Frequently Asked Questions related to the above topic.
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