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 | ||
| 9208.37 | 12.71  |
0.138 |
| FTSE 250 | ||
| 21619.81 | 127.941 |
0.595 |
| FTSE 350 | ||
| 5036.58 | 9.6 |
0.191 |
| FTSE All Shares | ||
| 4983.02 | 9.68 |
0.195 |
| Dow Jones | ||
| 46018.32 | 260.422 |
0.569 |
| Nasdaq | ||
| 22261.326 | -72.633  |
-0.325 |
Currencies
| Value | Move | % |
| 0 | ||
| 1.152 | -0.001  |
-0.052 |
| GBP/NOK | ||
| 13.385 | 0.006  |
0.045 |
| 0 | ||
| 12.665 | 0 |
0.003 |
| GBP/USD | ||
| 1.362 | -0.001 |
-0.09 |
Biggest Movers
| Value | Move | % |
| SEGRO | ||
| 795.6 | +52.4 |
+7.05 |
| easyJet | ||
| 477.8 | -18.1 |
-3.65 |
