Life Insurance and Critical Illness Cover

Life Insurance is a protection product which helps to provide financial security and cover to your dependents, family and loved one?s in the unfortunate event of death. The said money that is paid out as a claim from the policy, can be very useful to the dependents to continue the lifestyle they are used to. The funds received can replace a loss of income and could be used to pay off debts like Mortgages, which can reduce a huge financial burden. Critical Illness insurance pays out a lump sum when the policy holder is diagnosed with a particular critical illness, which is covered under the conditions of the policy. While Critical Illness Insurance is a standalone product, is it more often than not taken alongside a Life Insurance policy. The types of conditions covered under Critical Illness cover vary, as per the product offered by the provider but will usually include conditions like Cancer, Heart attack and Stroke.