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Critical Illness Insurance

Critical Illness Insurance

Good health is the most valuable thing any person can own. When your health takes a turn for the worse, then it is difficult to fulfill your responsibilities. When critical illness strikes, everything takes a change for the worse. Huge medical bills will need to be paid, but income will suffer because the ill person can no longer work. Critical illness insurance is there to help when this type of situation arises. It provides financial stability during the tough times.

How it Works

There are regulations the policyholder must meet in order to make a claim on this type of policy. For instance, the policyholder might have to survive a certain period before payout occurs. A typical waiting period is 14 days. There are generally two ways in which the payout is given. Some policies pay a set amount over time for illnesses, while other policies make a lump sum payment.

As with any insurance, there are benefits of having critical illness insurance. The policyholder can receive help for medical expenses, recuperation aids, replacement of lost income, and money for the change in lifestyle


Even if you are young and healthy, that does not mean an illness cannot strike. No one can predict the future, and a number of illnesses could strike you unexpectedly. Critical illness insurance can provide coverage for people who have, Alzheimer’s disease, blindness and deafness, kidney failure, transplants, HIV or AIDS contracted during a blood transfusion, and terminal illness.

You need to have insurance before tragedy strikes. Investing in this type of policy is worth it if you ever become critically ill.