A serious illness or accident can have a huge impact on the family and can take a big hit on the family’s savings and accumulated assets, which may have been for their kid’s inheritance or personal retirement. A critical insurance cover is necessary because a medical insurance may not be enough. Nobody likes to think about the possibility of suffering from ill health. However, you need to consider the financial consequences of surviving a serious illness or accident. Plan for this.
A couple’s critical illness plan can prove to serve as three generation plan. Which can cover the event of illness or death and remaining funds for the future generation. One gets the full settlement post their injury/surgery in a given scenario.
The growing importance of a critical illness plan in today’s world cannot be stressed enough. This safety net can shield a family during the most difficult and testing time of their lives. A critical illness insurance can provide lump sum upon diagnosis of certain critical diseases. (Which are covered by the policy)