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Why use BritishLife?

  • We provide quotes from all the major UK insurers as well as the more specialist ones
  • We work with some of the best award-winning advisers in the UK who provide free independent advice where required
  • We help people save money AND get the right protection for their families
  • You can trust us with your data - We respect GDPR; your consent; your privacy; and the law

What type of cover are you looking for?

1. Life Insurance with Critical Illness Cover

This provides a one-off tax-free lump-sum payment in the event of your death or a serious illness like cancer or permanent disability caused by injury. More info

Life Insurance and Critical Illness Cover protects families from financial hardship by paying out a one-off lump-sum if the policyholder dies during the term of the policy, or if they suffer a serious illness like cancer or a stroke, or a permanent disability caused by injury. The money can be used to pay off mortgages and other outstanding debts as well as providing a source of income for everyday living.

Premiums are paid monthly and the cover is set for a fixed period of time, often for the length of a mortgage or up to the age of retirement. The amount of life and critical illness cover varies according to how much you can afford and how much cover you think you need to pay off debts and provide day to day income.

The cost of the insurance is affected by various factors including the sum to be insured, existing health conditions, lifestyle issues like smoking and high BMI, age, occupation and any regular dangerous pursuits.

Most advisers would recommend taking out separate Life Insurance and Critical Illness Policies as you can only make one claim per policy, and if you suffer a serious illness it will be more difficult and more expensive to apply for a new life insurance policy. All insurers cover Covid-19 Coronavirus.

More info

 

2. Life Insurance Only

This provides a one-off tax-free lump-sum payment in the event of your death. More info

Life Insurance protects families from financial hardship by paying out a one-off lump-sum if the policyholder dies during the term of the policy. The money can be used to pay off mortgages and other outstanding debts as well as providing a source of income for everyday living.

Premiums are paid monthly and the cover is set for a fixed period of time, often for the length of a mortgage or up to the age of retirement. The amount of life insurance cover varies according to how much you can afford and how much cover you think you need to pay off debts and provide day to day income.

The cost of the insurance is affected by various factors including the sum to be insured, existing health conditions, lifestyle issues like smoking and high BMI, age, occupation and any regular dangerous pursuits.

Insurers historically pay 99% of all life insurance claims - when they don’t pay out, it is usually because the policyholder was not truthful on their initial application about an existing health condition or a regular dangerous pursuit which led to their death. All insurers cover Covid-19 Coronavirus.

More info

 

3. Critical Illness Cover

This provides a one-off tax-free lump-sum payment in the event of a serious illness like cancer or permanent disability caused by injury. More info

Critical Illness Cover protects families from financial hardship by paying out a one-off lump-sum if the policyholder suffers a serious illness like cancer or a stroke, or a permanent disability caused by injury during the term of the policy. The money can be used to pay for medical treatment or rehabilitation or pay off mortgages and other outstanding debts as well as providing a source of income for everyday living.

Premiums are paid monthly and the cover is set for a fixed period of time, often for the length of a mortgage or up to the age of retirement. The amount of Critical Illness Cover varies according to how much you can afford and how much cover you think you need to pay off debts and provide day to day income.

The cost of the insurance is affected by various factors including the sum to be insured, existing health conditions, lifestyle issues like smoking and high BMI, age, occupation and any regular dangerous pursuits.

More info

 

Can't decide?

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About Life Insurance with Critical Illness Cover

What is Life and Critical Illness Cover?

Life and Critical Illness Insurance pays out a lump-sum payment to your surviving family members if you die or are diagnosed with a terminal illness during the term of your contract, or if you are diagnosed with a serious illness like cancer or a stroke, or suffer a permanent disability.

The money can be used to pay off debts like mortgages, loans and credit cards, and provide an income to reduce the financial burden created by the loss of a parent.

How much Life and Critical Illness Insurance do I need?

There is no exact figure for how much Life & Critical Illness Insurance someone requires as it is a balance between what they can afford and what level of cover gives them peace of mind.

For most people, it is their mortgage which is their biggest financial commitment, and the value of the outstanding mortgage is the best place to start in terms of a figure for the sum insured. Then you might want to add on the value of any loans, car finance or credit cards.

If the budget allows, it is then worth considering a sum for additional household income spread over how many years any children will require financial support.

As a broad rule of thumb, £50 per month will provide for £100,000 worth of life & critical illness cover, which is slightly less than the average sum insured amount quoted for in the UK.

What affects the cost of Life and Critical Illness Cover?

There are several factors that influence the cost of Life and Critical Illness insurance including:

  • the sum insured amount ie how much the policy will pay-out
  • existing health conditions
  • lifestyle issues like smoking and weight/BMI
  • age of the policyholder(s)
  • occupation especially if it requires manual work
  • level, increasing or decreasing term ie does the sum insured amount stay the same, increase with inflation, or decrease in line with the outstanding value of a mortgage
  • length of the policy (typically 25 years)

Clearly some of these factors can be varied to change the cost of the cover, and some are fixed.

What type of Life and Critical Illness insurance do you need?

There are a few variations in types of life cover which you may want to consider:

  • Decreasing Term Life Insurance
    This is mainly used for repayment mortgages where the value of the outstanding mortgage decreases over time
  • Level Term Life Insurance
    This policy ensures that the value of the sum insured remains at a constant over the length of the policy, but it does not protect against the effects of inflation.
  • Joint Life Insurance
    This policy covers two people but only pays out once, mainly when the first person triggers a claim, or in some rare instances, when both policyholders have triggered a claim through their death or illness.

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Top Tip for Life and Critical Illness Cover

Because protection policies typically only allow for one claim, it is good practice to take out a separate policy for each product and for each person. So, a couple wanting Life Insurance and Critical Illness Cover represents four separate policies.

It may end up a little bit more expensive, but it provides much better protection. There are plenty of instances where people have taken out a critical illness policy, made a claim, and then get refused when they applied for a life policy because the new pre-existing condition is deemed too high risk.

The quotation service is provided by an FCA-authorised insurance specialist

About Us

BritishLife is an independent business looking to do big things - like get more British families protected financially should the worst things happen.

We offer our customers access to some of the very best quotes, guidance and advice on protection insurance through a number of carefully selected partnerships with some of the best specialist firms in the UK.

They provide competitive rates from a wide range of insurers but critically they understand the importance of value over simply price - getting the right advice can save you a lot of money.

Since 2006 we have helped over 300,000 families compare protection quotes, and we would love to do the same for you.

Best wishes
The BritishLife Team