Critical Illness Insurance

 

Critical Illness Insurance

What is Critical Illness Insurance?

Critical Illness Insurance (CII) is a type of insurance that makes a one-time lump sum payment in the event you are diagnosed with one of the illnesses covered by your policy. Examples could include dementia, stroke, cancer or heart attack

Features of CII:

• Added layer of financial protection
• No restrictions for the use of funds

          Examples: Medical care, childcare, day-to-day expenses, retrofitting a home, injecting funds into a business, etc.

• If a full recovery is made or you experience no loss of income, as long as the claim was approved, you are entitled to the payment
• Riders can be built into the policy

          Example: If a claim has not been made return of premium at age 65+, or return of premium at death