What is Critical Illness Cover?
Critical illness cover provides a lump sum of money should you the pilicyholder be diagnosed with having one of the insureres specified critical illness during the term of the policy. This insurance coverage allows you to pay your medical bills, as well as your mortgage, after a heart attack, stroke, cancer diagnosis or other devastating medical news. The feature is often included in insurance policies today at no additional charge. However, to ensure you get the best value from your critical illness insurance, there are a few facts to keep in mind.
There are many reasons to get critical illness cover benefits include:
- Ability to pursue the best medical care possible
- Allowance for a spouse to take time off to care for you during recovery
- Prevention of financial hardship as a result of medical challenges
- Provisions for child care, in-home nursing care or other forms of assistance
- Modifications to your home to make it more accessible to you after your illness
- In the event of a terminal illness, insurance allows you to pursue activities you love at the end of your life