What is the difference between Critical Illness insurance and Terminal Illness insurance?

Terminal Illness cover pays out if you are diagnosed with an illness from which a Doctor certifies that you are expected to die within 12 months of diagnosis.

This type of cover is normally included free of charge within all good Critical Illness and Life Insurance policies and certainly is included within all the Critical Illness policies we sell. You cannot buy Terminal Illness Insurance solely buy itself.

But please be aware, Terminal Illness is not the same as Critical Illness Insurance.
Critical Illness cover is much more comprehensive.

The essential difference is that Critical Illness pays out immediately if you are diagnosed with a serious or chronic illness which is included within your policy’s list of critical illnesses. However, with Critical Illness Insurance you do NOT have to be expected to die within 12 months of diagnosis and there are plenty of serious illnesses that fall into that category. For example, blindness, multiple sclerosis and paraplegia. (For further details please read the answer to “What conditions are considered critical?”)

Now consider the fact that 35% of men and 46% of women who develop cancer will survive at least 5 years and that 78% of stroke victims will survive at least a year. We think you will now appreciate the merits of Critical Illness Insurance and the difference between Critical and Terminal Illness Insurance.