Quick Answer
How Does Critical Illness Protect My Mortgage?
Reviewed by Jay Sabine – CeMAP Qualified – 29 years experience
CI mortgage cover pays off your mortgage if seriously ill. Match cover to mortgage balance. Decreasing cover = cheaper for repayment mortgages. Level = better for interest-only.
Critical illness mortgage cover ensures you can keep your home if you're diagnosed with a serious illness. The lump sum payout can clear your entire mortgage, removing your biggest financial commitment during recovery.
Key Points
- 1Pays off mortgage if seriously ill
- 2Choose decreasing or level cover
- 3Match to mortgage balance + 10-20%
- 4Decreasing cheaper for repayment
- 5Level for interest-only mortgages
- 6Tax-free lump sum payment
Eligibility Criteria
- Diagnosis of covered condition
- Condition meets policy definition
- Policy must be active
- Survival period applies
Typical Timeframe
Claims typically paid within 4-8 weeks, allowing quick mortgage repayment.
Next Steps
- 1Check current mortgage balance
- 2Decide decreasing or level
- 3Add 10-20% buffer
- 4Compare provider quotes
- 5Speak to mortgage adviser
Ready to discuss your options?
FCA regulated advice tailored to your situation
Related Questions
For more detailed information about this topic, visit our comprehensive guide:
ProtectionJay Sabine
CeMAP Qualified
29 Years Experience
Content reviewed: January 2026