1. What is critical illness insurance?

Critical illness insurance provides a tax-free lump sum payment if you’re diagnosed with a serious illness covered by your policy. This financial support helps you manage costs related to medical treatment, recovery, and other essential expenses during a challenging time.

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2 How does critical illness insurance differ from life insurance?

While life insurance provides a payout to your beneficiaries if you pass away, critical illness insurance offers financial support if you are diagnosed with a serious illness. It is designed to help cover expenses during recovery, whereas life insurance focuses on providing for loved ones after your passing.

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3. Can I use the payout however I choose?

Yes, the lump sum payout is yours to use however you see fit. Many policyholders use it for medical treatment, daily living expenses, mortgage payments, or even to take time off work for recovery.

 

4. How much does critical illness insurance cost?

The cost depends on factors like age, health, the amount of coverage you select, and the specific illnesses covered. We work with various providers to find policies that match your budget and needs.

 

5. Do I need a medical examination to qualify?

Some policies may require a medical exam(depending on your current health conditions), while others may only need health-related information. Your advisor can explain the specific requirements of each policy and help you choose one with requirements that match your needs.

 

6. What happens if I recover from the illness?

If you recover, the payout remains yours to use as needed. Critical illness insurance is designed to provide support through your recovery journey, regardless of the outcome.

 

7. Does critical illness insurance cover pre-existing conditions?

Most policies exclude pre-existing conditions or may limit coverage for illnesses related to those conditions. It’s essential to disclose any pre-existing conditions during the application process to ensure you understand the scope of your coverage.

 

8. How does critical illness insurance work with other insurance policies?

Critical illness insurance can complement life, health, or income protection insurance by adding extra financial support during a health crisis. The lump sum is typically paid out regardless of other policies you hold, offering added flexibility.

 

9. Is critical illness insurance a one-time payout?

Yes, most policies provide a one-time lump sum payment upon diagnosis of a covered illness. Once the payment is made, the policy is considered fulfilled and will not pay out again.

 

10. What if I have multiple covered illnesses?

Some policies offer partial payouts for certain conditions, allowing for additional claims if another covered illness occurs. However, standard policies generally provide one full payout upon diagnosis of a critical illness.

 

11. How do I make a claim?

To make a claim, you’ll need to provide medical documentation and complete any forms required by your insurer. Our team is here to support you through the process, ensuring it’s as seamless as possible during a difficult time.

 

12. Can I add critical illness cover to my life insurance?

Yes, many insurers offer critical illness as an add-on to life insurance policies, providing a combined solution for financial security in case of illness or passing. This can be a cost-effective way to enhance your overall coverage.

 

13. How can I get started with critical illness insurance?

It’s simple! Contact us today for a free consultation to discuss your needs, answer any questions, and find the right critical illness policy to protect you and your family.

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14. What is the difference between critical illness insurance and income protection insurance?

Critical illness insurance provides a lump sum payment if you are diagnosed with a specified serious illness, helping with one-time or immediate expenses. Income protection insurance, on the other hand, provides regular monthly payments if you’re unable to work due to illness or injury, offering long-term financial support until you can return to work or retire.

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15. Can I get critical illness insurance if I have a family history of serious illness?

Yes, you can still get critical illness insurance if there is a family history of serious illness, though it may affect your premiums or coverage options. Each insurer has specific criteria for assessing risk based on family history, and our advisors can help you find options suited to your situation.