Life and critical illness cover

• Combined cover (also called accelerated, or "life or critical illness" cover). One amount of cover that pays out once, for whichever happens first. After a critical illness claim the policy ends, and you have no life cover left from it.
• Additional or independent cover. Separate amounts for life and for critical illness. A critical illness claim ends that part, and the life cover carries on. Few of the insurers we use publish this as an option, but some let you hold separate life and critical illness cover in the same plan, which works in a similar way.
• Two separate policies. A life policy and a critical illness policy, each paying out on its own terms.

Costs depend on your age, health and the amounts, so we haven't compared them here. We'll show you quotes for the options that fit.

A joint combined policy covers two people and pays out once, for the first person who dies or makes a valid claim. Then it ends, and the other person has no cover from it.

With two single policies, or a plan that covers two people separately (offered by some insurers), each person has their own cover, so a claim for one leaves the other covered. Some insurers also let the other person on a joint policy take out new cover after a claim without new health questions, within a time limit.

• We work out with you whether you need your life cover to carry on after a critical illness claim.
• We compare combined, separate and two-person options from the insurers we use.
• We recommend how to set up your cover, and a policy, in writing, and explain what it won't cover.
• We help with the application and the insurer's trust forms.

We offer products from a carefully selected number of insurers to provide a fair analysis of the market for Income Protection, Critical Illness Insurance, and Life Assurance.

We don't charge you a fee for protection advice. If you take out a policy through us, we're paid commission by the insurer.

As with all insurance policies, conditions and exclusions will apply.

The cost of this insurance depends on several factors, such as your age, where you live and your occupation. As a result, the cost you will pay is based on your own circumstances.

Life and critical illness cover can be set up to go down over the term, roughly in line with a repayment mortgage. As with decreasing life cover, the payout may not pay off the mortgage if your mortgage rate is higher than the rate the policy assumes, or your mortgage changes.

If you put combined cover in trust, the critical illness payment normally stays with you, while the life cover goes to the people you choose. Insurers have trust forms for this. Putting a policy in trust usually can't be undone, and we'll explain the options first. If you're unsure about any of the implications, we'll suggest you speak to a financial adviser or a tax adviser.

The Financial Conduct Authority does not regulate trust or tax advice.

The critical illness part usually costs more than the life part, because you're usually more likely to have a serious illness than to die during the term. Your age, health, smoking, job, the amounts and the term all affect the price, as does whether the premiums are guaranteed or reviewable.

We don't publish example prices.