top of page

3 Reasons You Should Have Critical Illness Insurance

Updated: Dec 28, 2023

3 reasons you should have critical illness insurance

Critical Illness insurance is often overlooked or incorrectly assumed unnecessary, but the reality is, this couldn't be further from the truth. The reason is that many simply don't understand or grossly underestimate the benefits of having such a policy in place. This month on the blog, I am breaking down exactly what Critical Illness Insurance is, the top 3 reasons you should have it, what it covers, and who needs it!

What is classed as a critical illness?

Though the definition may vary from policy to policy, the general definition of a critical illness is that it is life-altering. Insurance providers generally outline the types of critical illnesses their plans cover as well as the stipulations that claimants must meet to receive compensation.

What is covered by critical illness insurance?

Critical illness insurance provides coverage for specific medical emergencies and supplements traditional medical insurance plans that often do not take into consideration all expenses incurred for serious and potentially disabling illnesses. This type of insurance helps to support families as they cope with the effects of critical illnesses. The payout can assist with additional treatments and rehabilitation, retrofitting homes and vehicles to accommodate critical conditions, or assisting with daily living expenses, just to name a few.

What are considered critical illnesses?

There are several illnesses that typically fall under critical illness insurance coverage, these are:

  • Cancer

  • Heart Attack

  • Stroke

  • Coma

  • Major Burns

  • Blindness

  • Deafness

  • Loss Of Speech

  • Coronary Artery Bypass

  • Major Organ Transplant

  • Multiple Sclerosis

  • Kidney Failure

  • Paralysis

  • Alzheimer’s Disease

  • Heart Valve Replacement

  • Angioplasty

  • Aorta Graft Surgery

  • Benign Brain Tumor

  • Loss Of Limbs

  • Motor Neuron Disease

  • Parkinson’s Disease.

Is it worth having critical illness coverage?

There are various critical illness coverage plans available and what is included or exempt from coverage varies so it is important to get the details to decide if a plan is right for you and your family.

These are the top 3 reasons why you should have critical illness insurance:

  1. Critical illness coverage plans are generally affordable. Plans are often priced according to the amount of illnesses covered with some covering a limited amount to ones that cover all the illnesses outlined above. The cost of the plan is also based on age and amount of coverage.

  2. Payments under a critical illness protection plan are made in a lump sum amount upon first diagnosis of any of the illnesses covered in the plan. This helps families deal with unexpected costs that may occur simultaneously and which add up quickly.

  3. No doubt, the biggest selling feature for critical illness coverage is the fact that there are a wide range of expenses that are not included in typical medical coverage that families must deal with in the event of a critical injury/illness. These protection plans provide ample financial support to help families cope with the real-life expenses they are facing. Having critical illness coverage in addition to traditional medical insurance can help individuals cope financially in the face of a critical illness.

Whether you are single, married, younger, or older, critical illness coverage should be part of your overall financial planning. In the current environment we live, more and more people have found themselves battling some form of critical illness and many are not prepared for the additional expenses that come with such illnesses.

For more information on critical illness plans, please give me a call at 345-916-0500 or email


bottom of page