Should I Get Critical Illness OR Income Protection?

Critical illness pays a one-off lump sum for specific serious conditions (best for clearing mortgage). Income protection pays monthly income if ANY illness stops you working (best for replacing salary). Many advisers recommend income protection as priority because it covers more scenarios, but ideally get both if affordable. They serve different purposes and complement each other.

Should I get critical illness or income protection?

It depends on your priority. CI is better for clearing debts quickly (mortgage). IP is better for ongoing income replacement. Ideally get both if affordable.

Which is more important?

Many advisers prioritise income protection because it covers ANY illness stopping you working, not just listed conditions. But if clearing your mortgage is priority, CI may suit better.

Income protection is typically cheaper because it pays while you're ill, not a large lump sum. CI can be more expensive, especially for higher cover amounts.

Yes, and many advisers recommend both for comprehensive protection. CI clears debts while IP maintains your income. They complement each other.

Quick Answer

Critical Illness or Income Protection - Which Do I Need?

Last reviewed: December 2025

Reviewed by Jay Sabine – CeMAP Qualified – 29 years experience

CI = lump sum for specific conditions (clear mortgage). IP = monthly income for any illness (replace salary). Different purposes - ideally get both.

Critical illness and income protection serve different purposes. Understanding the key differences helps you choose the right protection for your circumstances, or decide whether you need both.

Key Points

1CI: lump sum for listed conditions
2IP: monthly income for any illness
3CI best for: clearing mortgage/debts
4IP best for: ongoing living costs
5IP covers more scenarios
6Both together = complete protection

Eligibility Criteria

CI: diagnosis of listed condition
IP: unable to work due to any illness
Both require health declaration
Pre-existing conditions may be excluded

Typical Timeframe

CI pays within weeks of diagnosis. IP pays after waiting period (typically 4-8 weeks) and continues until recovery.

Next Steps

1Identify your main financial risk
2Calculate debts vs monthly expenses
3Decide priority based on budget
4Get quotes for both
5Speak to protection adviser

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Critical Illness or Income Protection - Which Do I Need?

Key Points

Eligibility Criteria

Typical Timeframe

Next Steps

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Key Points

Eligibility Criteria

Typical Timeframe

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Should I get critical illness or income protection?

Which is more important?

Which is cheaper?

Can I get both?

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