Life Insurance Simplified

What is Critical Illness Insurance?

Critical illness insurance is a form of health insurance that pays a tax-free cash sum in the event you’re diagnosed with one of the conditions outlined in your policy. These conditions often include heart attack, stroke, and cancer – but can include many more debilitating illnesses. This money can be used for any purpose, but is often valued as a way to cover the lifestyle costs associated with recovering from illness and caring for loved ones as you care for yourself.

Benefits of Critical Illness Insurance

• Pays a benefit directly to you. You have full freedom to decide what your money is used for.
• Wide-range of payable conditions. Many plans cover over 20 conditions that encompass common illnesses.
• Can be bought alongside life insurance, providing greater protection in the event of a health crisis.
• Some plans offer additional benefits, such as the ability to reinstate coverage after a claim is made.

Who is Critical Illness Insurance best for?

• Younger professionals who need a way to protect their income if they become sick.
• New parents who would struggle to care for children if a sudden illness struck.
• For those who are concerned about financial independence, but where home or disability insurance wouldn’t be a good fit.
• People living in remote locations who would need to relocate if they needed long-term health care for illness.