Critical illness insurance pays out when one of the specified critical illnesses occurs. For example, following a heart attack, stroke, cancer or some other specifically defined critical illness.
Cover is for a set term, which may be equal to a mortgage term, or for when children have grown up, until retirement, or until another life stage milestone is achieved. It may be worth considering having one policy for a set term to cover the mortgage and another that will provide money to help provide for your different lifestyle if a serious illness happens.
Most people choose a lump sum to be paid out. There is the option of receiving the payout as a set income over the term remaining, which is often a lower-cost option.
London Stock Exchange
| Value | Move | % |
| FTSE 100 | ||
| 8938.32 | -59.739  |
-0.664 |
| FTSE 250 | ||
| 21690.46 | -34.309 |
-0.158 |
| FTSE 350 | ||
| 4907.88 | -29.82 |
-0.604 |
| FTSE All Shares | ||
| 4858.53 | -29.04 |
-0.594 |
| Dow Jones | ||
| 44082.9 | -376.75 |
-0.847 |
| Nasdaq | ||
| 20731.406 | 91.078  |
0.441 |
Currencies
| Value | Move | % |
| 0 | ||
| 1.154 | 0.003  |
0.287 |
| GBP/NOK | ||
| 13.734 | 0.114 |
0.837 |
| 0 | ||
| 13.024 | 0.104 |
0.808 |
| GBP/USD | ||
| 1.339 | -0.005  |
-0.371 |
Biggest Movers
| Value | Move | % |
| SEGRO | ||
| 795.6 | +52.4 |
+7.05 |
| easyJet | ||
| 477.8 | -18.1 |
-3.65 |
