Critical illness cover provides a tax-free lump sum that will be paid out should you be diagnosed with a critical illness. Critical illness cover can be arranged as a standalone benefit or attached to other types of insurance such as life cover.

Critical illness covers many illnesses but these illnesses vary by provider. Normally a policy will cover illnesses including heart attack, stroke and cancer (types may vary). As there are such variances from each insurer, it can be difficult to decide which policy to take. Our Advisers can help you decipher the policy details to ensure you get the cover you are happy with.

You can vary the term of a critical illness policy; to ensure it meets your own circumstances. Many people will take out a policy in line with their mortgage term. Alternatively, you might want it to run until you retire or until your children finish their education.

Critical illness rates can be either ‘guaranteed’ or ‘reviewable’. A guaranteed policy could cost more, but gives you the peace of mind of knowing the amount you pay for the cover won’t change throughout the entire term.

With reviewable policies, the amount you pay may increase when premium rates are reviewed typically every five years. There will usually be no limits to how much your premium may increase when rates are reviewed, so you must take this factor into account when comparing the cost.