What Is Critical Illness Cover?
Critical illness cover pays a lump sum, usually tax-free, if you’re diagnosed with a serious illness covered by the policy. Unlike income protection, which pays a monthly income, critical illness cover provides a one-off payment that can be used in any way you choose.
What Can the Payout Be Used For?
The money can help with:
- Mortgage repayments
- Household bills and everyday expenses
- Childcare or reduced working hours
Travel, treatment support or lifestyle adjustments
This flexibility gives families breathing space at a difficult time.
How Is It Different from Life Insurance?
Life insurance pays out if you pass away. Critical illness cover pays out while you’re living, helping to protect your quality of life during recovery. Many people choose to have both, as they protect against different risks.
What Conditions Are Covered?
Most policies cover conditions such as:
- Cancer
- Heart attack
- Stroke
The number of conditions and definitions vary between insurers — which is why advice matters.
Do I Really Need Critical Illness Cover?
If you have:
- A mortgage
- Dependants
- Financial commitments relying on your income
Then critical illness cover is worth considering.
While the NHS provides medical treatment, it doesn’t replace income or cover lifestyle costs.
Is Critical Illness Cover Expensive?
Not necessarily.
Policies can be tailored to your budget, and many people are surprised at how affordable it can be, especially when set up alongside a mortgage.
How We Can Help
At go2mortgages and go2protect, we offer protection reviews — with no obligation and no pressure. You don’t need to be a mortgage client of ours for us to help you review, update or set up:
- Critical illness cover
- Life insurance
- Income protection
Get in touch to book a chat at a time that suits you.
The information contained within was correct at the time of publication but is subject to change. This article is for information purposes only and does not constitute financial advice.
