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 | ||
| 8758.99 | 0.95  |
0.011 |
| FTSE 250 | ||
| 21326.2 | 205.25 |
0.972 |
| FTSE 350 | ||
| 4811.21 | 6.06 |
0.126 |
| FTSE All Shares | ||
| 4763.16 | 6.64 |
0.14 |
| Dow Jones | ||
| 43089.02 | 507.238 |
1.191 |
| Nasdaq | ||
| 19912.533 | 281.559 |
1.434 |
Currencies
| Value | Move | % |
| 0 | ||
| 1.172 | 0.005  |
0.42 |
| GBP/NOK | ||
| 13.777 | 0.135 |
0.991 |
| 0 | ||
| 12.964 | -0.012  |
-0.091 |
| GBP/USD | ||
| 1.361 | 0.009 |
0.683 |
Biggest Movers
| Value | Move | % |
| SEGRO | ||
| 795.6 | +52.4 |
+7.05 |
| easyJet | ||
| 477.8 | -18.1 |
-3.65 |
