What is critical illness insurance?
Critical illness insurance is called by different names around the world, including cancer insurance, heart attack insurance, specified disease insurance and dread disease insurance. No matter what it’s called, the purpose is the same: reducing the financial impact of a serious disease.
If you experience a covered disease or health event, a critical illness insurance policy will help you focus on your recovery by supporting your finances. You’ll receive a payment equal to the amount of insurance you purchase. You can use the money for whatever you need, from replacing lost wages or traveling for treatment to taking extra time off work or paying off your medical bills.