Decreasing Critical Illness Cover Critical Illness Cover is assurance that pays out if you are diagnosed with an illness specified within the policy. It is designed to help you adapt if your life is changed by an illness. The illnesses covered by each policy will differ, so it is important to read the full details of the plan you are considering. The following illnesses are typical:  • Blindness – permanent and irreversible;  • Cancer – excluding less advanced cases;  • Coma – resulting in permanent symptoms;  • Deafness – permanent and irreversible;  • Heart Attack – of specified severity;  • Kidney Failure – requiring dialysis;  • Stroke – resulting in permanent symptoms. Insurers may also exclude some illnesses because you already have them, or are likely to get them because of your health or lifestyle. The premiums are often reviewable, meaning they may change during the term of the policy; although, some providers offer fixed premiums that are guaranteed not to change. Decreasing Critical Illness Cover is normally used to cover a repayment mortgage where the amount you owe reduces as you repay it. The premiums won’t change during the lifetime of the policy (unless you choose 'reviewable' premiums) but the amount that will be paid when you claim will reduce starting from the amount of cover you specify, and ending at zero by the end of the term. When the policy ends, it has no value. This means that if you do not claim within the term, you will not receive any money back. Critical Illness cover is not designed as a replacement for your income. If you are looking for cover to protect your income if you are unable to work then please contact us for advice. Close Window