What is Critical Illness Cover?

Critical illness cover is a type of insurance that provides a lump sum payment to the insured person if they are diagnosed with a specific critical illness, such as cancer, heart attack, or stroke. The policyholder pays regular premiums to an insurance company, and in exchange, the insurance company promises to pay out a lump sum if the insured person is diagnosed with a covered condition.

Critical illness cover can provide financial support to the insured person and their loved ones during a difficult time, as it can help cover medical expenses, lost income, and other costs associated with the illness. The lump sum payment can be used however the insured person sees fit, whether it's to cover medical bills, pay off debt, or simply provide a financial cushion during a difficult time.

There are several factors to consider when choosing a critical illness policy, including the types of illnesses covered, the level of coverage, and the waiting period before benefits are paid. It's important to work with a qualified insurance agent or financial advisor to determine which policy is best suited for your needs.

If you're interested in learning more about critical illness cover, contact Affinity Legacy Planning for help or to discuss your options.