What does Terminal Illness Insurance do?

You can claim on Terminal Illness Insurance if you are diagnosed with an illness from which you are expected to die within 12 months of diagnosis.

Terminal Illness Insurance is normally included free of charge with all good Life Insurance policies. You cannot buy it separately.

But it is important to realise that Terminal Illness is not the same as Critical Illness Insurance. The central difference is that Critical Illness pays out immediately you are diagnosed with a serious illness and you do NOT have to be expected to die within 12 months of diagnosis. There are plenty of serious illnesses that fall into that category. For example, multiple sclerosis, paraplegia and blindness. (If you would like to see a typical list of Critical Illnesses click What is Critical illness Insurance? and scroll to the bottom of the page displayed. (* The illnesses covered by a policy are always listed within the insurance company’s booklet. Lists can vary between insurance companies)

Now consider the fact that 46% of women and 35% of men who develop cancer will survive at least 5 years. You could be one of those and survive for many years. Critical Illness Insurance would pay out but Terminal Illness Insurance would not. We hope you now appreciate the merits of Critical Illness Insurance!

But please be aware; Critical Illness Insurance is quite expensive. So it is important that you get an excellent deal.