Critical Illness
Critical illness insurance pays you a tax-free lump sum if you’re diagnosed with a covered condition such as cancer, heart attack, or stroke. (Depending on your specific policy) This money can be used for anything — recovery, family bills, time off work, childcare, or even alternative treatments. It gives you financial breathing room during one of the hardest moments of your life. With coverage in place, you can focus on getting better instead of worrying about expenses.
Who it’s for
Individuals and families
Homeowners with financial obligations
Parents who need stability during a health crisis
Business owners or self-employed individuals
Anyone without long-term savings to cushion a diagnosis
People with a family history of serious illness
Different Kinds of Critical Illness Insurance
Term Critical Illness Insurance
Covers you for a set period (10, 20, or 30 years)
More affordable and ideal for temporary needs (mortgage, kids at home, etc.)
Pays a tax-free lump sum on diagnosis
Great for people wanting strong protection at a lower cost
Permanent Critical Illness Insurance
Coverage lasts a lifetime, as long as premiums are paid
Your coverage amount stays the same — even if your health changes later
Builds long-term financial stability
Ideal for people who want lifelong protection and guaranteed peace of mind
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Coverage varies by insurer, but commonly includes these 25 illnesses:
Life-threatening cancer
Heart attack
Stroke
Coronary artery bypass surgery
Major organ failure
Organ transplant
Kidney failure
Multiple sclerosis
Parkinson’s disease
Alzheimer’s disease
Dementia (advanced)
Motor neuron disease (e.g., ALS)
Benign brain tumour
Loss of limbs
Loss of independent existence
Severe burns
Blindness
Deafness
Paralysis
Coma
Aortic surgery
Heart valve replacement or repair
Severe infection (e.g., bacterial meningitis)
Occupational HIV
Pulmonary hypertension (primary) -
Anything you need. Income replacement, mortgage payments, travel for treatment, medication, childcare, home care, or simply taking time off work — the money is yours, tax-free.
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No. Disability insurance replaces monthly income, while critical illness pays a one-time lump sum as soon as you're diagnosed. Many people choose both for full protection.