What is critical illness insurance

Features of critical illness insurance

Major uses of critical illness insurance

Critical illness insurance details

Medical expenses incurred on account of a critical illness can be staggering. Up to 70% of cancer treatment drugs are deemed experimental, and thus are not covered by government plans. You can use the insurance money to bypass hospital line-ups and receive immediate treatment.

Important statistics

List of insurable illnesses

Critical illness insurance is available in two forms: basic and comprehensive. Basic insurance covers heart attack, stroke and cancer only. Comprehensive coverage covers heart attack, stroke and cancer, as well as up to 21 additional illnesses.

History of critical illness insurance

The concept of critical illness insurance was developed by the world famous heart surgeon, Dr. Marius Barnard, who saw a need for a plan that paid a "living benefit" to his patients because they were going to live, not because they were going to die.

To use Dr. Barnard's own words while on a speaking engagement in Victoria, British Columbia (May, 2001), "One of my patients lived for 28 years with his new heart. You know... he never complained about his health. His only complaint was money! The life insurance 'promise' to financially look after the family when he dies was taken away from him. He didn't die! The promise was no longer true. Times have changed. The old promise is not always enough. Look at critical illness insurance as a new or additional promise that you and your family will be looked after when you survive a critical illness."

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