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 | ||
| 8085.07 | -13.95  |
-0.172 |
| FTSE 250 | ||
| 20244.76 | -182.859 |
-0.895 |
| FTSE 350 | ||
| 4457.49 | -12.03 |
-0.269 |
| FTSE All Shares | ||
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-0.274 |
| Dow Jones | ||
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0.322 |
| Nasdaq | ||
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-0.112 |
Currencies
| Value | Move | % |
| 0 | ||
| 1.199 | -0  |
-0.026 |
| GBP/NOK | ||
| 13.977 | -0.014 |
-0.101 |
| 0 | ||
| 13.93 | -0.02 |
-0.143 |
| GBP/USD | ||
| 1.265 | -0 |
-0.005 |
Biggest Movers
| Value | Move | % |
| SEGRO | ||
| 795.6 | +52.4  |
+7.05 |
| easyJet | ||
| 477.8 | -18.1 |
-3.65 |
