Statistics show that the chance of contracting a serious illness is more common than most people think. However, due to medical advances, people often recover and live longer but are usually unable to work for extended periods of time. Critical Illness Insurance is designed to provide financial security when illness puts assets and savings at risk and allows you to focus on regaining your health.
Life Insurance pays a benefit upon death, Disability Insurance replaces lost income and Health plans reimburse medical expenses. Critical Illness Insurance plans provide a lump sum payment when you are diagnosed with a covered condition and satisfy the waiting period. These funds can be used to cover any expenses you choose, such as private nursing or medical care, modifications to your home or childcare costs. Or you can use the funds to pay off outstanding loans or take a vacation.
Critical Illness Insurance can lessen your financial uncertainties and enable you to focus on your recovery.