Importance of Critical Illness Insurance

critical illness insurance

Critical Illness is a great threat to our well-being. You never know when it may hit. Therefore, it is important to have Critical Illness Insurance.

Critical Illnesses are a common phenomenon to get worried about. The unpredictability of life is such that we could be hit down with something that incapacitates us in the next hour.

In such a situation, how would we be able to help our family? Will they be able to maintain their current lifestyle after you’re ill? How will the medical bills be paid? We don’t mean to scare you, we’re just putting out a situation that has happened to many people and could happen to you too

How can Critical Illness Insurance help you prepare?

 Critical Illness Insurance plans work to help you bridge the financial gap you have during the period of illness. It pays a lump-sum amount to you when you suffer from any covered illness. You can use that amount the way you wants

These pay-outs can be very helpful. They can be used for anything, be it medical bills, daily expenses or even Mortgage Payments. They work to help you stay financially stable while you are covering through your Illness. They give you a peace of mind.

Is it really important to get one?

 Most of us already have Life Insurance, Health Insurance and are covered fairly by respective work places. So is Critical Insurance even necessary? Well, yes! Every insurance plan mentioned here is designed for a specific purpose and does not cover what the other one does.

Most Critical Illnesses are not covered under your Work Insurance and will definitely cause a dent in your pocket if you’re not well covered for it. Even if you have contracted your disability at your workplace, it may not always result in a pay-out. Reading the terms of your plan are very important.

So, how do I get one?

 Well, the easiest way to get a Critical Illness Insurance is by contacting your Insurance Advisor. They will help you to go through the many available plans and help you make the best decision for your Insurance plans.

Secure your family’s future. Buy an insurance plan with Canadian LIC today.