Critical illness insurance, otherwise known as severe Illness cover or a dread disease, is an insurance product in which the insurance company is contracted to typically make a lump sum cash payment or on a sliding scale based on severity of the disease/event if the policyholder is diagnosed with one of the specific illnesses, on a predetermined list as part of an insurance policy.The death policy but while you are alive as it compensates the life assured during the window period between the event and the disability and or death. Essential for Self employed individuals and often a very underrated product but not the insurers who have this product as one of their most expensive products and for good reason one would think. Some Dread Diseases that can be covered but not limited to:
