What is critical illness insurance?
Critical illness insurance is a type of supplemental coverage that pays a lump sum benefit if you are diagnosed with a covered illness. It is designed to cover the cost of treating and recovering from expensive illnesses and procedures. These include heart attacks, strokes, and cancer. Critical illness insurance can pay for costs not covered by health insurance, such as deductibles and out-of-pocket costs. You can also use the funds for travel expenses and your regular bills.