What is the difference between Terminal Illness Cover and Critical Illness cover?

Terminal insurance is by no means the same as Critical Illness insurance. First of all Terminal Illness is free on most life insurance policies whereas Critical Illness cover is quite separate.

Critical Illness immediately pays out a lump sum if you are diagnosed with a serious illness. The insurance company provides an extensive list of illnesses which it defines as "critical illnesses" within the booklet you get with your application form. For example, the list of illnesses will normally include deafness and blindness as well as named cancers and many other serious conditions. The point is that with a "Critical Illness" you may well survive for very many years, years when your earning power may well be nil or severely restricted. Terminal Illness cover on the other hand, will only pay out if you are expected to die from an illness within 12 months of diagnosis.

To get some idea of the implications, we can tell you that 35% of men and 46% of women who develop cancer survive at least 5 years, and 78% of stroke victims survive at least a year.

Uk Critical Illness Insurance from MyLifeIsCritical.co.uk