Summary
Critical Illness Cover is changing. People are living longer with once life-threatening conditions. Reviewable policies are becoming more common.

Insurance Company's Miracle - You're No Longer Critically Ill

With the dramatic advances in medical knowledge in recent years, it's now possible to live for a long time with what previously might have been described as a terminal illness. If you are diagnosed with a critical, or life-threatening, condition a critical illness cover (CIC) policy pays you a tax-free lump sum if you are not able to work due to your illness.

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

With the critically ill living longer and insurers therefore paying out more on these policies, the cost of premiums has been soaring. At the same time the cost of life insurance policies are falling as claims on those have decreased.

Top of the leader-board in terms of cost are Scottish Equitable and Norwich Union whose premiums rose by a massive 60 per cent recently. Next in line with 50 per cent increases are BUPA and Friends Provident. Those make Swiss Life's and Legal & General's 20 or 25 per cent hike look quite modest. Watch this space for Liverpool Victoria 's announcement of their price rise.

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