A comprehensive guide to Critical Illness Insurance

A comprehensive guide to Critical Illness Insurance

Critical illness insurance is becoming more vital in today’s day and age. Haven’t heard of it? We’ve put together a summary of everything you should know about Critical illness Insurance.

What is Critical Illness insurance?

Critical illness insurance is essentially an insurance plan that provides financial coverage when the policy owner has been diagnosed with a critical illness. This may include cancer, heart attack, stroke, and more.

These illnesses alter the way we function. They hinder our life in some way and are usually fatal. They incapacitate you and your lifestyle, rendering you unable to earn and provide your family with the lifestyle they deserve.

This is where critical Illness insurance helps bring semblance to your life.

How does critical Illness insurance work?

 Once diagnosed with a critical illness by a medical professional, you are eligible to make a claim on your critical Illness insurance plan.

According to your plan, you may receive the sum in bulk or in monthly payouts. This should be designed according to your needs and the value of the payment in question.

The money received from critical illness insurance payouts can be used to cover daily expenses and even debt. Depending on the requirement of the family, it can also be used to cover medical expenses related to your illness.

Do I really need critical illness insurance?

 A majority of Canadians are not self-employed and are covered under a health plan drafted by the companies they work with. While this is great in some circumstances, it does not usually cover critical illnesses. Even if it does, the plan may become void under certain circumstances and may not be able to cover an array of diseases.

Life is very unpredictable and the future of our family’s finances lies in our hand. A critical illness insurance can help us secure it in a good way. What’s more, most plans allow you to claim benefits (equivalent to premium paid) even if you have made a full recovery or have never made a claim.

How do I get critical illness insurance?

 The simplest way to get a critical illness insurance plan that suits your needs is to connect with an insurance broker from Harpreet puri. They are aware of the many plans available in the market that could be exactly what you are looking for.

Insurance is a crucial aspect of financial planning. Contact Harpreet Puri to learn more about critical illness insurance and how it can protect your financial future.