Life insurance is a must for anyone today to ensure that your loved ones are not left financially lost if you were to suddenly die. However, today, it makes a lot of sense to add on a Critical Illness Cover to a life insurance policy to protect you from huge financial payouts in the case of a critical illness. You never know when you might suffer from a critical illness and when you do, there's a strain on the household financially – with this cover you can tide over that. Even if you are too ill to go to work, this payout helps to run the home while you are ill.
Cover under this policy is provided for in over forty illnesses and Alzheimer's, Parkinson's, heart ailments, strokes and some types of cancer fall within this. There are certain conditions however that the insurance companies specify and you must read the fine print if you take this policy. If you cancel a Critical Illness Policy, you do not get any money refunded.