Defining critical illness:

Critical illness is a term that is used to define a person who is sick to the extent that it affects their work-life directly. The impact of the disease is financially significant on the family, especially if you are the sole bread-earner for your family.

Critical illness cover:

Critical illness insurance is a long-term insurance policy which covers serious illnesses listed within the plan and most of the prevalent sicknesses are already covered for you at a standard premium rate.

If you do get one of the illnesses mentioned in the policy before the term of the policy ends, your system will pay out a tax-free, one-time lump sum payment which can help pay your mortgages, debts, or speciality cares.

This is particularly when it comes to the diseases it covers and the seriousness of each condition. While critical illness insurance and life insurance are often sold together, they are vastly different – essential policies of illness, do not assure payment if the holder of the policy dies during the term.

Another critical point of the policy is that it does not cover illnesses you were diagnosed with before obtaining the policy. It only offers a one-time payment for any disease mentioned in the plan that you are diagnosed with post-purchase.

Reasons to get a critical illness insurance policy:

One of the significant reasons to get a critical illness policy is that the government benefit is not reliable.

Critical illness policies are a great pillow to financially fall back upon if you do not have any savings to tide you and your family over if you ever get ill or disabled. They are also a great money net if your employer has not covered you with employee benefits packages.

Depending on your age, lifestyle, and job factors, your critical illness policy may cost higher or lower than usual. But despite the rate, it is excellent security to watch your back in the future.

We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
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