A simples guide

Terminal Illness Insurance

If you are diagnosed with a terminal illness, then the last thing you’re probably thinking about is money. However, terminal illness cover within your life insurance policy can help make you more comfortable with either a lump sum payment or monthly payments to spend as you see fit to help you and your family through a difficult time.


Terminal Illness Insurance

Some policies pay out the complete life insurance amount in a single payment, bringing the policy to a premature end.  These ‘accelerated death benefits’ are found in a lot of life insurance policies, but not all of them. Even if they are included the terms and conditions might be restrictive so check carefully as you might want to consider a separate sickness cover policy.

Don’t confuse terminal illness cover with critical illness cover, they are different things and serve a different purpose. A critical illness may not be terminal, so even though you may think you are covered while you recuperate from a debilitating condition, the terminal illness insurance cannot be activated unless the condition is diagnosed as terminal and you have a less than 12 months prognosis. 

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What evidence will be required to access my terminal illness insurance?

Even in these tough times, there may be paperwork to attend to and the insurance company may insist on a second opinion from an expert before making the payment. This is simply to confirm the original doctor’s diagnosis and assessment of your condition.

Many insurers will spell this out right at the start before you sign up, so make sure you check the policy before you commit. By all means look for the best price, but check the conditions closely as this is the kind of policy that you will need to rely on if and when the time comes.

Where can I get the right amount of terminal illness insurance cover for me?

Our comparison service can help you compare the prices for policies with the cover that suits you best.

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