Critical Illness Insurance
Although technological advancements are available for better treatment in cases of life-threatening diseases, it has also made the treatments very expensive. Critical Illness not only can cover the treatment costs which can leave you in a financial crisis, but also, it can cover the household yearly expenses for the duration of your recovery. That is why it is so important to ensure you have critical illness insurance plan in place as additional plan to your life insurance policy.
This type of insurance offers coverage for more than 25 different types of illnesses. When you apply for a claim, you will be getting a lump sum amount of funds that you have purchased as critical illness plan which you can use for the treatment or any other household expenses while going through illness treatment and recovery. The amount that you will get is completely tax-free and the coverage amount will not be considered in your annual income tax.
We never know when we become ill. Consider Critical Illness today!