What is Critical illness Insurance?

Definition of Critical Illness Insurance   A critical illness insurance is an insurance package whereby the insurer is required to make a lump sum payment if the policyholder is diagnosed with a serious illness listed in the insurance policy. For example, this insurance can be very beneficial in providing financial protection to the policyholder or their dependents to repay their mortgage or debts due to the inability of the policyholder to work or due to death of the policyholder. This … [Read more...]