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What is it?

Critical illness cover is a type of insurance policy that pays out if you get a serious illness, disease or disability.

A critical illness policy will not pay out if you die suddenly. If you want a payout for this reason then look for a life insurance policyÌý¾±²Ô²õ³Ù±ð²¹»å.

What does it cover?

The cover depends on the policy you take out, but some of the common conditions covered include:

• Cancer

• Heart attacks

• Strokes

However, most policies specify the severity of the conditions they cover, e.g. some policies only cover a stroke that gave you resulting symptoms lasting for at least 24 hours.

If you want cover for a certain condition, look for a policy that covers it before you apply.

Find out more about the different types of cover here

How does it work?

When you apply for critical illness cover, you need to choose:

• How much cover you want

• How long you want the policy to last, e.g. 30 years

Each insurer offers a limit on how much you can claim, with some offering up to £25,000, and others offering millions. Compare cover limitsÌý³ó±ð°ù±ð.

The amount of cover you choose will affect your monthly premiums, which you pay throughout the term of a critical illness policy.

Most policies offer fixed monthly payments throughout the term, however there are two exceptions:

• Increasing cover: Your premiums, and the amount you can claim, rise in line with inflation, which is measured by the Consumer Prices Index (CPI).

• Decreasing cover: Your premiums are fixed, but the amount you can claim reduces. These are commonly used in line with a repayment loan, like a mortgage.

Find out how to claim here

Who can get it?

To be eligible for most critical illness policies, you should be:

• Over 18 years old

• Under a policy's upper age limit when you apply, e.g. under 60

• Not diagnosed with an illness you want cover for

The eligibility criteria may differ depending on the insurer you choose.

If you smoke, or have ever smoked, your policy is likely to be more expensive due to your increased chance of developing a serious medical condition in life.

Most critical illness policies only cover you, but there are policies that cover more than one person:

• Joint policy: This would cover you and another person, e.g. your partner

• Family policy: This would cover you, you partner and your children

If you are not sure what type of policy to choose, speak to an independent financial adviser. An adviser can give you guidance and recommend a policy, but they may charge you a fee.

Compare critical illness cover here