Understanding the Essence of Critical Illness Insurance (CI)
Financial series
Today we will discuss a type of insurance called critical illness term 100. It has a return on premium upon death.
Critical Illness is a crucial tax-free lump sum that individuals diagnosed with life-threatening illnesses such as cancer, heart attack, stroke, blindness, Alzheimer’s, multiple sclerosis, organ transplant, kidney failure, or paralysis can receive. These illnesses are prevalent, and you or someone you know may likely experience them. It’s unfortunate, but many people face severe financial hardship due to prolonged illnesses. Therefore, it’s essential to be aware of the benefits of Critical Illness and consider it as a wise investment to secure your financial future.
Did you know that many people become homeless due to a disastrous financial situation caused by a very bad accident or illness? I’ve had the opportunity to talk to several homeless people in our local shelter to understand how they ended up homeless. To my surprise, most of them had good-paying jobs, were married, and lived a “normal” life like any of us. However, they all had one thing in common — a very bad accident or illness. When they were no longer able to work, their savings depleted quickly, and the replacement income they received was only a fraction of what they earned before, assuming…
