Posted in Protect Your Family

Why do people use Critical Illness Insurance?

One of the most commonly used, but most misunderstood, insurance policies is Critical Illness cover. Sometimes called "Trauma Insurance" is a lump sum of money which gets paid out if you suffer from one of the defined illnesses listed in the policy.

The big illnesses are the ones you'd expect – cancer, stroke, cardiac conditions. They account for the overwhelming majority of the Critical Illness claims, and most people are familiar with them because we see them all the time. Everyone knows a family member, co-worker, friend who has suffered from a critical illness – it is actually quite common.

Critical illness insurance is a unique product, which is designed for the living. You may well survive a critical illness, but there will certainly be a financial loss that you may never fully recover from. Here are some ways that clients use their Critical Illness cover:

Business owners will use critical illness insurance to provide much-needed funds to:

Insurance, Health Insurance