How long should I take out the critical illness cover for?

It really depends on how much you can afford and your personal circumstances. The average is between 20 and 25 years.

If you are insuring for purposes other than a mortgage, it is recommended that you insure for as long as you can afford because if you decide at a later age to get insured again, you'll find that it's a lot more expensive. Furthermore, if your health has deteriorated, you might not be able to get insured at all. Many insurance companies will not insure people over the age of 65, although some will go to 70.

If you were insuring to pay off a mortgage if you became critically ill, then the sum you insure for should equal the outstanding balance on your mortgage.

The general minimum term for a Critical Illness policy is 2 years.