It’s not just about protecting your home — it’s about protecting your future.
When you’re applying for a mortgage, there’s a lot to think about — interest rates, deposits, monthly payments… and then someone brings up critical illness cover, and you wonder: Do I really need that too?
It’s a fair question — and one we get asked a lot. So, in this article, we’ll explain what critical illness cover actually is, how it works, and whether it’s something you should seriously consider when taking out a mortgage.
Let’s break it down simply, without the jargon.
💡 What is Critical Illness Cover?
Critical illness cover is a type of insurance that pays out a lump sum if you’re diagnosed with a serious medical condition listed in the policy — typically things like:
- Cancer
- Heart attack
- Stroke
- Multiple sclerosis
- Certain surgeries (like organ transplants or heart bypass surgery)
If something happens and you’re unable to work or earn an income due to your diagnosis, the payout is designed to help you cover big financial commitments — like your mortgage.
Think of it as a financial safety net for life’s unexpected curveballs.
Why It Matters When You Have a Mortgage
Your mortgage is probably the biggest financial commitment you’ll ever make. You’ve worked hard to afford it — and you’re planning your life around that home.
But if you suddenly became seriously ill and couldn’t work, could you still afford your monthly payments? And if not — what happens then?
That’s where critical illness cover comes in.
It gives you the breathing space and financial support to:
- Cover your mortgage payments
- Focus on recovery, not bills
- Avoid dipping into savings or relying on family
- Stay in your home without added financial stress
What’s the Difference Between Life Insurance and Critical Illness Cover?
Great question — and a common confusion.
Life insurance pays out when you die. It’s designed to support your loved ones financially after you’re gone.
Critical illness cover, on the other hand, pays out while you’re still alive — but seriously unwell. It’s there to protect you and help you carry on during a tough time.
The two policies are often bought together, but they serve very different purposes.
How Much Does It Cost?
The cost of critical illness cover depends on:
- Your age
- Health and medical history
- Lifestyle (e.g. whether you smoke)
- The level of cover you choose
- The length of the policy
It’s usually more expensive than life insurance, simply because it’s more likely to be claimed during the policy term. But many people are surprised at how affordable it can be — especially when you weigh it against the risk of losing your home if you fell ill.
As mortgage brokers, we can help you tailor the cover to fit your budget and needs.
Who Should Consider Critical Illness Cover?
You should definitely consider it if:
- You have a mortgage or large financial commitment
- You have dependents who rely on your income
- You’d struggle to pay the bills if you couldn’t work for a while
- You don’t have significant savings to fall back on
- You want peace of mind and protection for your future
Even if you’re young and healthy, it’s worth thinking about — because critical illnesses don’t just affect older people. In fact, many claims come from people in their 30s and 40s.
Is It Required with a Mortgage?
No — critical illness cover isn’t mandatory. You’re not legally required to have it in order to get a mortgage.
But just because it’s optional doesn’t mean it’s not important. Many people regret not putting protection in place after something happens — when it’s already too late.
Our job at HLC Mortgages isn’t to pressure you into buying protection. It’s to help you make an informed choice based on what’s right for you, your family, and your finances.
We Can Help You Find the Right Policy
Like mortgages, not all insurance policies are created equal. Some cover more conditions than others. Some have exclusions. Some are better suited to families, others to individuals.
That’s why it helps to speak with someone who can look at your full picture — and help you find the cover that fits.
At HLC Mortgages, we work with a wide range of protection providers, and we’ll guide you through the options in plain English — no jargon, no pressure.
Final Thoughts
Your mortgage gives you a home. Critical illness cover helps you keep that home if life throws you a tough challenge.
It’s not about being pessimistic — it’s about being prepared.
Whether you’re applying for a new mortgage or reviewing your current one, it’s a smart time to ask: If something happened to me tomorrow… would my home still be safe?
If you’re not sure where to start or whether it’s right for you, we’d be happy to chat through your options.
Want to explore your protection options?
Get in touch with HLC Mortgages today.
We’ll help you understand your choices, without any pressure to buy.