Why You Need a Critical Illness Insurance | PNB MetLife Insurance

Why You Need a Critical Illness Insurance

PNB MetLife 02-11-2016 04:17:22 PM
Why You Need a Critical llness Insurance

Why You Need a Critical Illness Insurance
Most people imagine that a serious illness only happens to other people. It’s very understandable that we wouldn’t want to anticipate such a horrible reality, but it’s also important to be prepared. Research shows that 25% of women and 20% of men will suffer from a heart attack before retirement age. If this is truly the case, it might be worth it to prepare for such an eventuality.

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Critical illness insurance is designed to ease the financial pressures of someone suffering from a serious illness by paying them a lump sum when they receive their diagnosis. In addition to this, most critical illness plans will pay out if the policyholder becomes permanently disabled due to their injury or illness.

In addition to this, a critical illness cover can be added to your life insurance policy, through which you receive a lump sum on diagnosis or death, whichever comes first. When the two are combined, the premiums will be cheaper than if you were to select the two policies separately.

Coverage in case of any eventuality
A great benefit of newer plans is that the range of illnesses covered, are now expanding. Earlier critical illness insurance plans primarily covered six ailments – coronary artery bypass graft surgery, cancer, kidney failure, heart attack, major organ transplant and stroke. But now insurance companies are launching plans that cover almost 20 different serious illnesses.

Critical illness insurance should be a part of your financial planning. Seek the help of a financial expect so that you can choose the plan that works best for you.