Critical Illness Cover
Critical illness cover, sometimes known as critical life insurance, is designed to pay a tax free lump sum on the diagnosis of one of a number of predefined serious illnesses. With ActiveQuote's critical illness comparison it is easy to compare critical illness cover quotes online from across the UK to find the best critical illness insurance at an affordable price.
Why would I need critical illness cover?
Survival rates for people suffering from a critical illness are increasing, and patients are going on to live many years after diagnosis. However, a serious illness may mean that you are unable to return to work. Critical illness cover quotes are designed to provide you with a financial cushion to make the recovery process a little bit easier if you are diagnosed with a critical illness.
How does critical illness cover work?
Critical life insurance pays out a lump sum when the policyholder is diagnosed with a predefined critical illness such as a stroke, a heart attack or advanced cancer. The critical illness insurance money is yours to do with as you wish, but many people use it to:
- Pay off their mortgage or other loans if they are unable to work
- Pay for travel expenses for treatment abroad
- Pay for private therapeutic care
- Make modifications to the home
What is the difference between critical illness insurance and income protection?
Unlike critical illness cover which will pay out a lump sum of money on diagnosis of a critical illness, income protection is designed to replace part of your income if you cannot work because of incapacity or sickness. Income protection policies will pay out for any condition that stops you from working, as long as it is not excluded on the policy. For more information take a look at our guide to long term income protection.
What will critical illness insurance quotes cover?
All critical illness cover quotes should cover seven core conditions. These are cancer, coronary artery bypass, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke. Best critical illness insurance policies will also pay a lump sum if the policyholder becomes permanently disabled after injury or illness.
Critical illness cover quotes are not designed to pay out for mild conditions. Every type of critical illness covered by the policy will be defined in the policy document.
What types of critical illness cover quotes are available?
Life and critical illness cover
Life and critical illness cover is a type of policy that combines both critical illness cover and life insurance. By combining the two, you are guaranteed a lump sum of money either on death or on the diagnosis of a predefined critical illness. It is often cheaper to buy these two policies together, making life and critical illness cover a popular option.
Some life insurance policies will also include a terminal illness benefit which pays out if your illness is deemed to be terminal. Terminal illness benefit should not be confused with critical illness insurance.
Standalone critical illness cover
If you do not want life insurance or if you already have a life insurance policy in place, you can buy critical illness cover as a standalone product. This may be more expensive than life and critical illness cover.
How much will critical life insurance cost?
The cost of your critical illness insurance will depend on a number of factors, including:
- The amount of money you want your critical illness insurance to pay out
- The range of critical illness conditions covered
- Personal details like your health, your smoker status and any family history of serious illness
It is often the case that if you buy life and critical illness cover as one policy it will be cheaper than buying critical illness insurance by itself.
Why compare critical illness cover quotes with ActiveQuote?
ActiveQuote is an FSA authorised broker with a team of experts ready to help you compare critical illness cover quotes from across the whole market. Our online critical illness cover comparison system will provide you with free, online critical illness insurance quotes which you can tailor to suit your budget. If you need any advice when you compare critical illness cover, one of our advisors will always be on hand to help you find the right critical illness cover for you.