Critical illness insurance

• This payment can be used however you need it — for medical bills, treatments, or to cover daily living expenses if you’re unable to work due to your illness.

Unlike health insurance, which typically covers medical treatment costs directly, critical illness insurance provides a lump sum amount that you can use at your discretion, often when you need it most.

Key points:

• Coverage: The policy only pays out if you’re diagnosed with one of the illnesses listed in your policy. Commonly covered illnesses include cancer, heart attacks, strokes, and more.
• Payment: It’s usually a lump sum, meaning you receive the entire amount in one payment after a diagnosis.
• No restrictions: The money can be used however you choose — for treatments not covered by health insurance, home modifications, or even lost income.