Critical illness insurance provides protection against loss of income due to illness or injury caused by pre-existing diseases & disabilities. It pays loss of income.

About critical illness insurance:

Critical illness insurance is not about life insurance but insurance which covers all critical illnesses. For a low premium you can get insurance, which covers you in case of an unavoidable illness.

-Good discounts & offers on healthcare services. -Reduces costs for burial expenses and funeral. -Cheaper in the long run than buying health insurance on your own.

Pros of critical illness insurance:

While only some of us will ever need to invest in critical illness insurance, as the expenses from an accidental or untimely death can be tough to bear, this is a necessity when it comes to insurance.

-Access to and knowledge of treatment -You can check out doctor’s opinion regarding the treatment. -Prior to you pay the bill, you can know what hospital charges.

Pros of critical illness insurance:

It covers all expenses that you may incur in case of unfortunate incidents. You can take a pre-existing critical illness policy or an endowment critical illness insurance, and apply same for insured.

-High cost of insurance. -Not the best option if you don’t suffer from any specific disease. -Not cheap in case of money and a continuous source of worry in mind.

Cons of critical illness insurance:

It gives coverage for property & contents of insured. This is of immense importance when there is a claim & to ensure that entire assets of insured are covered under the critical illness insurance.