Critical illness insurance offers peace of mind
Critical illness insurance aims to offer piece of mind by providing financial assistance to you and your loved ones in the case of a life-altering illness such as heart attack, cancer or stroke. While these are the most commonly covered conditions, other medical ailments such as paralysis, Parkinson’s, Multiple Sclerosis and Alzheimer’s disease may also be covered under some policies.
It’s important to note that critical illness insurance is a complement to disability and/or life insurance. Disability coverage provides income replacement, while life insurance covers loved ones in the case of the employee's death. Critical illness insurance generally pays a lump sum upon diagnosis of the critical illness, which can then be used toward medical treatment and recovery as needed.