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Terminal Illness Cover

What is terminal illness cover?

Whilst life insurance typically pays out to your beneficiaries if you die, most policies now also include terminal illness cover as standard.

Having a terminal illness element accelerates the policy pay out, allowing you to receive funds before you pass away.

In order for a pay out to be issued, the insurer will require a ‘terminal‘ diagnosis, from a medical professional in that specific field.

It is commonly accepted that being diagnosed as having a terminal illness, means the policyholder is expected to die within 12 months. However, if you exceed the life expectancy you will not be expected to repay the funds.

Terminal illness cover


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Remember, if you smoke you are at greater risk to a wide range of critical, sometimes terminal conditions, such as lung cancer, mouth cancer, a stroke, heart attack and coronary heart disease.

Although common, it is important to remember that not all policies have terminal illness cover as standard and that exclusions can apply.

What is the difference between terminal illness and critical illness?

Although often confused, critical illness and terminal illness cover are two different things.

Understanding the differences between these types of cover is essential to ensure you choose the right life insurance policy.

As mentioned above, a terminal illness pays out if you are diagnosed with a terminal condition and are predicted to die within 12 months.

Whereas critical illness pays out if you suffer a life-changing condition, covered by your policy, which is unlikely to result in death (in the near future).

Although unlikely to kill you, critical conditions impact your ability to work and therefore provide for your family.

The benefits of terminal illness cover

The main benefit of terminal illness cover is that it allows you to access funds before you are gone.

Having access to this money could really help both you and your loved ones. It would mean you would not have to worry about family finances during this difficult time.

Your policy pay out could help you cover:

Types of terminal illness include

Terminal illness cover in summary:

Critical illness cover


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