Critical illness insurance

Critical illness insurance usually pays a one-time lump-sum payment if you become seriously ill.

The amount you receive as a benefit will depend on the amount of coverage that you choose. The insurance company usually pays you the benefit after the diagnosis of a condition covered by your policy.

insurance benefits

Single lump sum payment on diagnosis of a critical illness
The benefits you receive are not taxable
The premiums you paid may be refunded
No restrictions on how you spend the money
Benefit amount will help you cover your financial commitments
You can use the money for home care for you and your family
Use money to provide some financial flexibility
Lower the premium (cost) at early age
You are entitled to collect the entire benefit even if you make a full recovery

Below are commonly critical illnesses covered by most insurance companies.