Decreasing Critical Illness Extra

Pays out a lump sum in the event of death, earlier diagnosis of a terminal illness or meeting the definition of one of the named critical illnesses within the term of the plan. The sum assured reduces throughout the term at a rate chosen by the customer of 7%, 8%, 9% or 10% per annum.

This contract offers both guaranteed and reviewable premiums.

Amount of Cover

  • No minimum sum assured. Driven by minimum premium.
  • Maximum sum assured:
    £3 million - if Specific Work Tasks definition under TPD applies, or
    £2 million - if Own Occupation definition under TPD applies.
  • The amount of cover decreases roughly in line with the way a repayment mortgage reduces during the term of the policy.


  • The minimum term allowed is 5 years (2 years if Life Insurance with Critical Illness Cover or Critical Illness Extra is chosen).
  • The maximum term allowed is 40 years.

Age restrictions

  • The minimum age to take out a policy is 18. It is possible for a life of another policy to be taken out on a 17 year old by an adult with insurable interest. This policy can then be placed in an Absolute trust with the 17 year old as the beneficiary. 
  • The minimum age at the end of the policy is 29.
  • The maximum age for buying a policy is 64.
  • The policy must end by their 70th birthday.


  • Reviewable.
  • Payable monthly or annually by Direct Debit.

Options available

Benefits automatically included

Other information

  • For joint life policies, benefit is paid on the first critical illness claim or death, whichever occurs first.