Critical Illness Insurance

Critical Illness insurance is something that some know of, and some don't. Much like Disability Insurance, this coverage is created to protect against a loss of income, but is also able to provide significant coverage for other financial needs that may arise in the time of a medical crisis. In its simplest terms, if one is diagnosed with any of a number of the covered illnesses, a lump sum, tax free benefit is paid to that individual. What this means to you is that you can choose not only to with your large insurance benefit, but also how you will cope and deal with the specific illness for which you are experiencing.