Critical Illness is a living benefit which protects an insured person who diagnosed with life threatening diseases like cancer, heart attack, stroke, heart surgery, paralysis, brain tumour, kidney failure, blindness, major organ transplant, Alzheimer, terminal sickness etc. Critical illness insurance provides a lumpsum benefit to insured. When you survive from a critical illness you may not be able to return work, your expenses and living cost increase dramatically. Here life insurance does not work. Critical Illness insurance can protect you and your family in this case. They money you receive in covered critical illness can be used in number of ways. It is a substitute of your lost income to pay private nursing and treatment out of country or pay off mortgages etc. And the good thing about this insurance is, you can choose an option of waiver of premium when you buy Critical Illness insurance. With Critical Illness Insurance provides a financial relief and insured person can focus on recovery if illness strikes.
Critical Illness Insurance is also two kinds: Term Critical Illness Insurance and Permanent Critical Illness Insurance. Cost of Term Critical Illness Insurance is less in comparison to Permanent Critical Illness Insurance.
Health Priorities Term Plans
Health Priorities Term plans are renewable after their term until the policy owner reaches to 75 year of age. It pays a tax-free lumpsum amount if covered critical illness happen. People with mortgage loans, young families and self-employed workers can take advantage of term critical illness insurance plans.
Health Priorities Permanent Plans
Health priorities permanent plans are available up to 100 years of age and always have a cash value. In case not diagnosed with any critical illness, insured can take premium refund if they change their mind or do not get sick.
Critical Illness Insurance can also provide coverage for children and business. For more professional advice Contact us.
