Critical Illness Insurance

Critical illness insurance is becoming an essential component of any risk management program.  As an increasing number of people survive illnesses such as heart disease, cancer and stroke, due to the remarkable advancements in medical treatment, the need for critical illness insurance is becoming a growing concern.  In fact, you are much more likely to survive a critical illness than die from it.

Critical illness insurance will pay you a tax-free, lump sum of money 30 days after the diagnosis of any covered condition, including a heart attack, cancer or stroke.  These funds can be used at your discretion, whether you wish to pay off your mortgage, take time away from work to spend with your family, or travel outside of the country for special medical treatment.

Most critical illness policies will offer a Return of Premium option for an additional premium, whereby if you do not experience a claim prior to a specified date the insurer will provide you with a refund of your premiums.  The timing and amount of these refunds will vary for each insurance contract.