FAQ

What is critical illness insurance?

Critical illness insurance is a policy that pays you a lump sum amount of money when you have a serious illness such as heart attack, cancer, stroke, or other major illnesses that are mentioned in your policy.

How Can I use the money from critical illness insurance payout?

You can use the money received from a payout in a variety of ways including paying off your debt, covering your medical and other bills, covering your time off work and replace your lost income and so on.

How much Tax is charged on My lump sum payout?

None. The good news is that your cash payout t the time of diagnosis is totally tax free and you are entitled to keep the whole sum to help you use the money as required.

What type of illnesses can I claim for?

The commonly known illnesses that you can claim for are cancer, heat attack, stroke.

What is the difference between critical illness and disability insurance?

Critical illness is when a lump sum is received at the occurrence of a critical illness whereas a disability insurance payout is paid out on a monthly basis if you cannot work.

Can critical illness insurance give you an income?

Yes it can. If you apply for a large lump sum insurance payout policy then the you can use the money to invest in an income producing investment.

A critical illness insurance will give you a peace of mind of being financially secure against a sudden illness. You do not want to be worrying about money at the time of a serious illness so let a critical illness insurance cover take care of that.

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