What Is the Average Cost of Critical Illness Insurance in the UK
Critical illness insurance in the UK typically costs £25-80 per month for £100,000 cover over 25 years, depending on age and health. A 30-year-old non-smoker might pay £25-40/month; a 40-year-old £50-80/month. Smokers pay 50-100% more. Age is the biggest factor - applying younger secures lower rates.
What Affects Your Premium
Critical Illness Insurance Costs
Premiums increase significantly with age - applying younger locks in lower rates
Critical Illness Insurance Costs
Smokers typically pay 50-100% more than non-smokers for the same cover
Critical Illness Insurance Costs
Higher cover amounts mean higher premiums - balance need vs affordability
Critical Illness Insurance Costs
Pre-existing conditions and high-risk jobs can increase premiums or add exclusions
Frequently Asked Questions
What does critical illness insurance typically cost?
For £100,000 cover over 25 years, a 30-year-old non-smoker might pay £25-40/month. A 40-year-old might pay £50-80/month. Costs increase significantly with age and are higher for smokers.
Why is critical illness more expensive than life insurance?
Critical illness has higher claim rates than life insurance. You're more likely to be diagnosed with a serious illness during the policy term than to die. Higher risk equals higher premiums.
What factors affect my premium?
Age is the biggest factor, followed by smoking status, cover amount, policy length, occupation, health history, BMI, and family medical history.
Can I reduce my premium?
Options include: reducing cover amount, shortening term, choosing level vs increasing cover, excluding certain conditions, or paying annually instead of monthly.
Related Questions
This page provides general information only and does not constitute personal financial advice. Critical illness insurance products and their terms vary between providers. Always read the policy documentation carefully before purchasing. Your Home Finance is authorised and regulated by the Financial Conduct Authority.