What is critical illness insurance?
Critical Illness insurance, also known as heart attack insurance, cancer insurance, specified disease insurance or dread disease insurance, is a product designed to help lessen the financial impact of a serious disease. A South African surgeon invented it when he saw his patients struggling with their finances after they recovered from major illnesses, making it the only insurance product that wasn’t created by an insurance company.
Although not every disease is covered, a critical illness insurance policy will cover many of the most common and financially disruptive conditions. It helps protect you from the financial burden of a serious illness by giving you money to use for anything – making up for lost wages, funding extra time off work, covering medical payments and even traveling for treatment. That way, you can focus on getting well.