Critical illness insurance: why you should have it
Consider the possibility that you're unsure of the meaning of the term "critical illness insurance." These policies pay out a lump sum if you are diagnosed with a dreadful illness. In the event of a critical illness, you agree to a lump sum payment from an insurer. This coverage can last from one to several years, depending on your needs. In the event of a critical illness, your insurer will make a lump-sum payment from the cash value of your policy. There is a possibility that you will be forced to use your savings if you do not have critical illness insurance. Getting treatment can wipe out months' worth of savings in an instant. As a result, critical illness insurance provides financial support and allows you to keep your other savings in place during these difficult times. Afterwards, you can use your benefits to pay for medical care and other costs. As an alternative, you can use the money to replace lost income and meet your monthly financial commitments. When p...