Compare Critical Illness Cover

Are you interested in Critical Illness cover, but not really sure how it works or what you need? Let us help. Our team of friendly, expert advisers, are here to help you understand your options and compare the best policies on the market. Our service is completely free and we are completely independent – so we can offer impartial advice and take one more job off your hands.

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1 in 2

Will be diagnosed with cancer

1 Heart attack

Every 5 minutes

100,000

Strokes each year

100,000

Diagnosed with MS a year

What is Critical Illness Protection?

Critical Illness Insurance (or Critical Illness Cover) is a long-term insurance policy, for which you pay a regular monthly premium to cover serious illnesses as listed in the policy.

If you suffer one of these illnesses, such as cancer, a stroke or heart attack you will receive a one-off, tax-free payment.

You can use the payment to pay off the mortgage, keep paying the bills or for any care you might need. It is probably the best known of the protection products and is often sold as an add-on product to a Life Insurance policy.

Who needs Critical Illness Protection?

Critical Illness Cover offers a safety net for anyone who doesn’t have sufficient savings or employee benefits in place to meet all your essential outgoings indefinitely – in the event of a critical illness or injury.

Life insurance only usually pays out on the event of your death, when in reality finances could be further stretched by a critical illness; as you would have to factor your own living costs as well as any dependants, as well as potential alterations to accommodation for disability or extended periods of care.

But what are the chances I will really need it?

Critical Illness is not something anyone wants to think about, but sadly it is a reality for many people and a lump sum payout can be a real lifeline at such a testing time.

The reality is:

  • 1 in 2 UK people will be diagnosed with cancer in their lifetime (Cancer Research UK)
  • 280 per day are admitted to hospital with a heart attack (that’s one every 5 minutes). (British Heart Foundation)
  • There are more than 100,000 strokes in the UK each year (one every five minutes) (British Heart Foundation)
  • Around 100,000 individuals in the UK are multiple sclerosis. This is a disease that attacks the young (20 – 30 years old)
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Life Insurance

Income protection is a policy designed to come into play if you become ill or injured and subsequently could not work and provide for yourself and your family. Yourself and any dependants would have a monthly payout to rely on, usually around 50-70% of your regular earnings until you can return to work or retire. Income protection can be an addition to a life insurance policy, or taken out independently.

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Income Protection

Income protection is a policy designed to come into play if you become ill or injured and subsequently could not work and provide for yourself and your family. Yourself and any dependants would have a monthly payout to rely on, usually around 50-70% of your regular earnings until you can return to work or retire. Income protection can be an addition to a life insurance policy, or taken out independently.

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Critical Illness FAQs

What is Critical Illness Insurance?

Critical Illness Cover provides you with a tax-free lump sum should you be diagnosed with one of the critical illnesses covered by your policy. The tax-free lump sum is there to help you cover costs of treatments, mortgage payments and other outgoings.

What is the difference between Critical Illness and Income Protection?

Critical Illness Cover provides you with a tax-free lump sum should you be diagnosed with one of the critical illnesses listed on your policy. Critical illness does not cover your income specifically but will pay out a tax-free sum that will be used to cover your outgoings, usually covered by your income. When taking out cover, it is important to work out how much cover you and your family would need to still live comfortably should you become ill.

Can I cancel my policy if I don’t need it anymore?

Yes, there is a “cooling off period” usually between 14 and 30 days, allowing you to cancel your policy and any monies debited will be fully refunded. Should you choose to cancel outside of the “cooling off period”, you will need to notify us and we will be able to assist you from there.

How much will cover cost me?

When taking out your policy, you will be required to disclose your medical history. For those who are in good health, cover will be quick and easy to apply for.

Your premium will be calculated based on:

  • Gender

  • Age

  • Smoker Status

  • Medical History

  • Height/Weight

What illnesses are covered by Critical Illness?

All insurance companies are different, so it is important to check your policy. However, there are illnesses that are covered as a standard by most insurers, including:

  • Stroke

  • Cancer

  • Organ Failure

  • Alzheimer’s disease

  • Heart Attack

  • Parkinson’s disease

What are the payment options?

Payments are made by Direct Debit from a UK bank account, so you are fully covered by the Direct Debit Guarantee meaning there is no risk to your money by speaking with us.

I already have Health Insurance. Do I need Critical Illness?

Your Health Insurance policy will help cover the diagnosis, medication and treatment of your condition however, will not cover loss of income. Critical Illness will pay a tax-free lump sum to yourself directly which will help cover costs such as loans, mortgages and bills.

If I fall ill with Coronavirus, can I claim?

Unfortunately, your Critical Illness Cover is not likely to pay out should you contract Covid-19. Coronavirus is a viral infection so will not be listed on your policy as a critical illness. However, should you face heart failure for example whilst ill with Coronavirus, you should be able to make a claim.