What is critical illness insurance?
In today’s world, advancements in the health industry are contributing to the increasing longevity of human life and also unfortunately contributing to the increasing prevalence of critical illnesses. Statistics show by age 70, majority of North Americans will have faced a critical illness. Critical illness insurance essentially pays the face amount of the policy to the insured in a lump sum. The money can be used without restrictions, and it is paid upon the diagnosis of the specific illnesses. The question isn't whether you will get a critical illness, but how will you handle it when you do?
Why is it important?
In spite of seeing people affected by critical illnesses all around us on a daily basis, we refuse to accept the chance that at some point we may be victims of a critical illness as well. Critical illness insurance is a real world solution to a real problem. It protects your lifestyle and your family from a financial disaster.. Modern medicine and advanced technology can save the patient, but the resulting financial ramifications could be devastating.
Who is eligible for critical illness insurance?
Conditions covered include:
- Cancer
- Coma
- Parkinson's disease
- Heart Attack
- Kidney Failure
- Benign Brain Tumour
- Stroke
-Paralysis
- Loss of Speech
- Alzheimer'ss disease
- Deafness
- Major Organ Transplant Recipient
- Multiple Sclerosis
- Blindness