Last Updated on March 29, 2021
1. What is critical illness insurance?
Critical illness plan, also known as a catastrophic illness plan or cover, is a type of insurance developed back in 1996. As the name entitles, it mainly targets covering the big unfortunate health-related events. These events may be a strong shock to your health and your life in general.
A critical illness plan provides coverage for the big medical emergencies that generally cost much higher expenses to treat than average. It pays out additional cash to ensure the overruns’ financial coverage where your normal insurance plan may fall short.
