Provided, administered and underwritten by Aviva Life & Pensions UK Limited. Exclusions and limitations apply.
What is critical illness cover?
What is critical illness cover?
Critical illness cover pays out a lump sum if you’re diagnosed with a certain illness or disability that’s covered in your policy.
For example, if you’re diagnosed with a serious illness that’s covered, then critical illness cover could give you a financial safety net.
Critical illness cover could pay out:
- On diagnosis.
- When the condition has progressed to a specified severity.
- When named treatments or surgeries are performed.
You can use this money in many different ways.
- Help to clear the debt off your mortgage or pay your rent.
- Cover everyday bills and expenses.
- Make lifestyle changes if you need to.
- Adapt your home for comfort and accessibility, if needed.
The benefits of critical illness cover
Critical illness cover can give you and your loved ones peace of mind if you become critically ill.
It aims to pay you a one-off lump sum if you're diagnosed with a critical illness that's covered.
The policy can cover you (single policy) or two people (joint policy). It will only pay out once.
What's the difference between critical illness cover and life insurance?
Critical illness cover is designed to help you and your loved ones financially if you’re diagnosed with a specific critical illness condition by providing a lump sum.
Critical illness cover doesn't pay out if you die . That’s what life insurance is for.
Life insurance will pay out if you die during the term of the policy. It's designed to help your family to maintain their lifestyle after you've gone, like clearing any mortgage debt or maintaining their current lifestyle.
Both life insurance and critical illness policies only pay the full cover amount once, on a valid claim. They have no cash value at any time, and if your payments stop, so does your cover. Exclusions and limitations will apply.
How much is critical illness?
How much you pay each month depends on the type and level of cover you pick. But it’s not just that – your personal situation matters too. Things like your age, health, lifestyle, whether you smoke and your job all play a role in how much you’ll pay.
There are two types of cover:
- Decreasing cover: With this, your cover gradually reduces over time. It can work alongside a repayment mortgage. As long as you keep up with your mortgage payments, it should cover the debt and your monthly payments stay the same.
- Level cover: With this, the cover amount and your premium are fixed throughout the policy. This works well for lifestyle cover, as you know how much you would receive in the event of a claim. It can also be used alongside an interest-only mortgage.
If you apply for Level cover you can choose to protect your cover amount against inflation. If you do, both your cover and premium will increase each year- and your premium will increase at a higher rate than the cover amount. Each year, you get to decide whether to accept the increase. If not, your cover amount and premiums stay put.
Children’s benefit
We care about you and your family, so the critical illness cover that’s offered includes an additional benefit for your children. Here’s how it works.
Who’s covered: All your children—whether they’re natural, stepchildren, or legally adopted.
Age range: Between 30 days old up until their 18th birthday. If they’re in full-time education, it’s extended to their 21st birthday.
Claiming doesn’t affect other benefits: If you claim the children’s benefit, don’t worry—it won’t impact any other benefits you might get in the future.
Payout: In case of a critical illness affecting your child, you’ll receive the lower amount of £25,000 or 50% of the cover amount. It will apply to children who survive for 10 days after diagnosis.
Children's critical illness won't pay out if the critical illness was present at birth or the child had symptoms of critical illness before the cover was taken out.
To apply, you must:
- be in the UK, with a legal right to live in that jurisdiction,
- consider your main home as being in the UK, and have no current intention of moving anywhere else permanently, and
- be aged between 18 and 64.
For a joint policy, the maximum age applies to the oldest life covered.
- The policy can last between 5 to 50 years.
- The policy must end before you turn 76.
To find out what illnesses are covered, see the critical illness plan policy summary and policy conditions in the important documents.