Critical Illness Cover vs Income Protection
A plain-English comparison of two GeraSure policy lines — what each covers, what it excludes, typical annual premium, and how to choose.
Quick Answer
Critical Illness Cover typically costs £200–£1200/yr and Income Protection typically costs £200–£1500/yr. Both start at a similar premium — the right choice depends on what you need to protect.
Critical Illness Cover
Pays a tax-free lump sum if you are diagnosed with a specified critical illness — typically cancer, heart attack, or stroke. Provides financial cushion during recovery.
- Avg annual premium
- £200–£1200/yr
- Type
- personal
- Available in
- 2 markets
Income Protection
Pays a regular monthly income if you are unable to work due to illness or injury. Covers up to 60–70% of your gross income until you recover, retire, or the policy term ends.
- Avg annual premium
- £200–£1500/yr
- Type
- personal
- Available in
- 2 markets
What each policy covers
Critical Illness Cover covers
- ✓ Cancer (most types)
- ✓ Heart attack
- ✓ Stroke
- ✓ Multiple sclerosis
- ✓ Organ failure and transplant
- ✓ 50+ critical conditions depending on policy
Key exclusions
- ✕ Conditions not on the specified list
- ✕ Pre-existing conditions
- ✕ Non-invasive cancers (check exact terms)
- ✕ Survival period requirement (typically 14 days post-diagnosis)
Income Protection covers
- ✓ Monthly income payment (up to 60–70% of gross earnings)
- ✓ Covers any illness or injury preventing work
- ✓ Short or long-term payment periods
- ✓ Own occupation or any occupation definition
Key exclusions
- ✕ Pre-existing conditions (moratorium basis)
- ✕ Unemployment (redundancy) — not covered
- ✕ Self-inflicted injury
Frequently asked questions
Is critical illness cover more expensive than income protection?
Based on GeraSure's average annual premium ranges, critical illness cover typically costs £200–£1200/yr and income protection typically costs £200–£1500/yr. Both have a similar starting premium; your actual quote depends on your risk profile, location and cover level.
Is critical illness cover the same as life insurance?
No — critical illness cover pays out on diagnosis of a specified serious illness while you are still alive. Life insurance pays out on death. Both are complementary — critical illness provides funds for living costs and adaptations during recovery.
What is the deferred period on income protection?
The deferred period is the waiting time between your inability to work and the first payment. Shorter periods (4 weeks) cost more. Choose a deferred period that aligns with how long your employer sick pay or savings would last.
GeraSure is a comparison and referral service. Insurance products are provided by FCA-authorised or equivalent regulated insurers in each jurisdiction. GeraSure does not underwrite insurance policies and does not provide financial advice. Always read the policy wording before purchasing.