What is Critical Illness Insurance?

Critical Illness Insurance, also known as Critical Care Insurance or Critical Illness Coverage, is a policy that provides a lump-sum cash benefit to policyholders diagnosed with a qualifying serious illness, such as cancer, heart attack, stroke, or organ failure. This benefit helps cover expenses like medical treatments, rehabilitation, or other costs not fully addressed by traditional health insurance. Unlike standard plans that limit payouts to specific services, this insurance offers flexibility, allowing policyholders to use the funds however they see fit during a challenging time.

The financial strain of a critical illness often goes beyond medical bills, impacting everyday living expenses when someone is out of work or facing additional costs. While a primary health insurance plan may cover some healthcare expenses, it typically doesn’t account for these broader challenges. Critical Illness Insurance acts as a financial safety net, easing the burden and providing peace of mind so policyholders can focus on recovery rather than money worries.