Critical illness cover options

There are a number of things you’ll need to consider when you’re taking out critical illness cover. Here are some of the options available to you. Your adviser will be able to help you decide what is most suitable to meet your protection needs.

Level cover The amount of cover you choose and your premium will remain the same through the term of your policy. This could be chosen if you have an interest only mortgage. The amount of cover won’t change over time so you and your family know how much will be received in the event of a claim.
Decreasing cover The amount of cover you choose reduces each month, but your premium remains the same. This is normally chosen to cover a repayment mortgage.
Increasing cover The amount of cover you choose increases each year in line with the Retail Prices Index (RPI). Your premium will also increase for this type of cover. This means that your cover amount stays in line with inflation. As this type of cover stays in line with inflation, it is designed to combat price rises, maintaining its real value throughout the term.
Premium Protection This cover means you won’t have to pay your premiums if you’re unable to work because of an accident or disability. This means that you won’t lose your cover if you can’t pay your premiums if you’re unable to work.
Trusts A trust is a legal arrangement that lets the owner of something ‘gift’ ownership to someone else, this could include cash, property, shares or a life insurance policy. This means that you can make sure that the money from your policy goes to the people that you choose.

Children’s cover is included in Scottish Widows’ critical illness cover policies.

Children’s critical illness cover - your policy can include cover for your children if they are diagnosed with a critical illness that is covered by your policy. This means that if your child is ill and you have to take time off work, you don’t have to worry about the financial impact this might have.

Children’s life cover - your policy can include cover if you have a child who dies. This means that you will have financial support at a very difficult time.

You can find out more about critical illness cover from Scottish Widows in our policy summary (PDF, 2MB).



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Are you looking for life cover or critical illness cover? Find out how you can apply.

How to apply

Financial Services Compensation Scheme (FSCS)

Go to the FSCS website