What Is Critical Illness?

Critical illness insurance is a type of insurance that provides a lump-sum payment to the policyholder in the event that they are diagnosed with a covered critical illness. This insurance can help cover the costs associated with a critical illness and provide financial security during a difficult time.

Here are some examples of why someone may need critical illness insurance:

• Cover additional costs: Critical illness insurance can help cover the costs associated with a critical illness that may not be covered by other types of insurance, such as medical bills, lost income, and other expenses.
• Covers additional illnesses: Critical illness insurance can cover a broader range of illnesses than other types of insurance, such as cancer, heart attack, and stroke.
• Peace of mind: Critical illness insurance can provide peace of mind for individuals who may be at higher risk of developing a critical illness due to their family history, occupation, or lifestyle.
• Supplement employer coverage: Critical illness insurance can supplement employer-sponsored health insurance or disability insurance coverage, providing additional financial protection in the event of a critical illness.
• Access to additional resources: Critical illness insurance may also provide access to additional resources, such as counselling services or support groups, that can help individuals and their families cope with a critical illness.

Overall, critical illness insurance is an important financial tool for individuals to protect themselves against the high costs associated with a critical illness. The type and amount of critical illness insurance coverage needed will depend on an individual's personal circumstances, health history, and financial goals. Armour’s brokers can help you find the best coverage at the best price.

Contact us today for your free quote!