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Understanding the Cost of Critical Illness Cover: An Essential Guide

Updated: Mar 15

In a world where health is truly wealth, critical illness cover has become increasingly important. It's a type of insurance that provides a lump sum payment if you are diagnosed with a specific illness or medical condition covered by your policy. But how much does it actually cost? Our latest blog aims to explore the true cost of critical illness cover, helping you make an informed decision about your health and financial future.

Understanding the Basics of Critical Illness Cover

Critical illness cover, also known as critical illness insurance or serious illness cover, is a policy designed to provide financial support when a serious illness or injury strikes. The illnesses covered vary from policy to policy but often include conditions like heart attack, stroke, certain types of cancer, and more. The payout can help cover medical expenses, mortgage payments, home alterations or even everyday living costs.

Factors Influencing the Cost of Critical Illness Cover

The cost of critical illness cover is influenced by several factors. Your age, health status, lifestyle choices (like smoking), the term of the policy, and the amount of coverage you want all play a role in determining the premium. Typically, the younger and healthier you are, the lower the premium.

Comparing Different Critical Illness Cover Policies

It's essential to compare different policies before making a decision. Some policies may offer comprehensive coverage, including a wide range of illnesses, while others might be more limited. The cost will reflect the breadth and depth of coverage.

A proficient Mortgage and Protection Advisor possesses tools that allow for swift and thorough comparison of critical illness policies. While choosing the lowest premium typically works for basic life insurance, the same approach for critical illness cover may lead to costly repercussions.

The Value of Critical Illness Cover

While the cost is an important consideration, remember to consider the value as well. Critical illness cover can provide significant financial support at a time when you're likely to need it most. Without it, you may face substantial medical bills on top of regular living expenses.

Some Cover Is Better Than None At All!

Opting for a lower amount of cover now, with the intention to increase it in the future, is significantly better than postponing the decision to get insured altogether. We understand that the weight of monthly premiums can seem daunting, especially when balancing other financial commitments. However, having some level of protection can provide a crucial safety net. This approach not only makes critical illness cover more accessible but also offers peace of mind while you work towards a more comprehensive plan.

Remember, the goal is not to add financial strain but to safeguard against it, ensuring you and your loved ones have support when it's needed most.

The Impact of Inflation

Remember, the cost of living and healthcare costs tend to rise over time due to inflation. Therefore, the amount of coverage you might need today could be different from what you'll need in the future. Some policies offer an inflation protection feature, which automatically increases your coverage amount over time.



Understanding the cost of critical illness cover is crucial in planning for your future, particularly when taking on a mortgage. While it's an additional expense, the peace of mind and financial security it can provide in the face of a serious illness can be invaluable. Remember to consider your personal circumstances, compare different policies, and consider the long-term value when deciding whether or not this type of cover is right for you. Don't underestimate the power of being financially prepared in a health crisis - it could make all the difference.

Take the Next Step Towards Financial Security

Ready to prioritise your health and financial future with critical illness cover? Taking the first step is easier than you might think. Reach out to us today to explore your options, compare policies, and find the coverage that best suits your needs and budget.

Remember, investing in critical illness cover is not just a financial decision; it's a commitment to your peace of mind and the well-being of you and your loved ones. Don't wait for a health scare to remind you of the importance of being prepared. Act now and secure the comprehensive protection you deserve.


As with all insurance policies, conditions and exclusions will apply.

Published by Beechwood Mortgages Ref: 219335 with review and approval from Stonebridge Mortgage Solutions Limited who is authorised and regulated by the Financial Conduct Authority Ref: 454811.

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