Whilst it is easily confused by some, Terminal Illness and Critical Illness cover are very different. Before you arrange insurance you should understand the differences.
Terminal illness cover pays when the policyholder is diagnosed as having an illness which is likely to cause death in the near future. The ‘near future’ can vary but it’s usually either six or twelve months. Many life insurance policies include terminal illness cover for no additional charge.
Once a terminal illness claim has been paid by your insurer, no further claims can be made. The policy then comes to an end. If you survive past the life expectancy diagnosed then you will not be expected to pay back any of the money.
Critical illness cover (CI) is designed to pay out when you experience a life changing illness, but one which is not likely to result in death. This type of cover will pay out for much more common illnesses such as heart attacks and strokes, and for this reason it is often relatively expensive to include and not included as standard on all policies.
If illness, such as cancer, stroke or heart attack, means we are no longer able to work, or we need adaptations to our home or more care, having CI cover can be very reassuring.
Whether you need Critical Illness or Terminal Illness cover is something you need to decide, but knowing that such cover exists is reassuring for those of us with families and loved ones that are dependent on us and our income.
For more information, speak to our insurance specialists on 01628 507477.
Related Blog Articles:
- What is the difference between Life Assurance and Life Insurance?
- Tax Efficient Life Cover for Small Businesses
Download our Free First Time Buyers Guide
Recent posts
Delayed Start Mortgages
Today
The new Delayed Start Mortgage launched by Skipton Building Society allows first time buyers to postpone the first three mortgage payments. This product has been designed to help soften the blow of moving in costs for first time buyers.
Green Mortgages | Rewards and Benefits
2 days ago
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.
When will mortgage rates fall further?
12 days ago
Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.
The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.
Lloyds boost lending for first-time buyers
19 days ago
Lloyds Banking Group has jumped on the bandwagon to boost lending for first-time buyers as they allocate an additional £4 billion to help first-time buyers on to the property ladder.
As the Loan to Income (LTI) cap has been increased to 5.5 times income, applicants who fit the First Time Buyer Boost criteria could borrow up to 22% more.
The government is introducing mortgage reforms to boost homeownership, stimulate economic growth, and make the housing market more accessible, especially for first-time buyers.
Chancellor Rachel Reeves has announced the most significant mortgage reforms in over a decade—great news for those dreaming of homeownership.
Nationwide ease criteria for first-time buyers
22 days ago
Nationwide ease their ‘Helping Hand’ mortgage designed to help first-time buyers get onto the property ladder by allowing them to borrow up to six times their income.
More information
Trusted by
