Critical illness Insurance
Critical illness insurance provides a tax-free lump-sum of cash, usually 30 days after the diagnosis of life-altering illnesses such as a heart attack, stroke, cancer, Parkinson’s, or Alzheimer’s diseases, heart attack, stroke, or bypass surgery. Some plans cover as many as 40 different illnesses and events. This type of insurance can be used to help pay costs associated with illness, offset lost income, eliminate debts, and pay for day-to-day expenses, or to seek alternative treatment after suffering a life-altering illness.
The Lump Sum benefit you receive may be used in any way you see fit; to seek advanced private health care at home or in other parts of the world, fund renovations to your home to accommodate with your condition, or enable your spouse to stop working and help care for you. Critical Illness Insurance can also provide protection for your business. In the event you are unable to run your business due to illness, the benefit can be used to help maintain your fixed costs until you are able to return.