Critical illness policy is like a cancer policy except it covers much more than just cancer. Most critical illness plans pay a lump sum cash benefit on first diagnosis of a named condition. Your critical illness policy may cover cancer, heart attack, stroke and up to a dozen or more conditions.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
Critical illness insurance comes in a variety of definitions. If it is a 'rider' on your life insurance it probably covers anything that causes the insured to be unable to perform two or more of the 5 daily living tasks by themselves, such as dressing, bathing, toileting, eating, and walking. It may be defined as a critical condition from which recovery is not expected.
There are "catastrophic disease" policies that are stand alone policies and usually cover cancer, heart attack, stroke and any terminal condition.
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There are "catastrophic disease" policies that are stand alone policies and usually cover cancer, heart attack, stroke and any terminal condition.