What Is Critical Illness?
Nowadays, people survive serious medical issues such as cancer, a heart attack, or a stroke. And while this is good news if a critical illness happens to you – your recovery may come with costs that you don’t have the money to cover.
This is where critical illness insurance can play a crucial role. In this article, we’ll explain:
- What critical illness insurance is.
- What you can use the money from a critical illness insurance payout for.
- How you can get critical illness insurance.
What is critical illness insurance?
A critical illness policy is designed to help you pay the costs associated with a serious medical issue such as cancer, a stroke or a heart attack. With critical illness insurance, your insurance company will issue you a lump-sum payment once the waiting period has passed.
Critical illness insurance can help you pay for costs that aren’t covered by other health plans or disability insurance.
What can I use the money from critical illness insurance for?With a critical illness lump-sum payment, there are no restrictions on what you can use the money for. You can choose to use the money to:
- Pay down debt or cover costs such as travel to and from your treatment.
- Cover lost income for you if you cannot work. This is especially important if you are self-employed.
- Pay for a caregiver or lost wages if your spouse takes time off work to be a caregiver.
- Cover renovations on your house that are necessary due to your illness.
- Cover medical treatments and medications not covered by a government or private health plan.
How do I get critical illness insurance?We can help you get critical illness insurance. If you’re interested in critical illness insurance, these are the steps you’ll need to follow:
- Think about why you want critical illness insurance and what kind of coverage you need.
- Book an appointment to speak to us. Apply for coverage.
- We’ll let you know when you’re approved and deliver your policy.