Critical Illness Insurance

Critical illness insurance is a type of insurance specifically for critical illnesses. When the insured is diagnosed with a critical illness listed in the contract, the insurance company will pay a lump sum of compensation. Critical illness insurance is designed to provide additional financial support to the insured and their family when facing the treatment, recovery and related living expenses of a critical illness.

Critical illnesses usually include high-cost diseases such as cancer, heart disease, stroke, organ transplantation, etc. The treatment costs of these diseases are often very expensive, and may also cause the insured to be unable to work, resulting in income interruption. The compensation from critical illness insurance can be used to pay for medical expenses, rehabilitation expenses, nursing expenses, and daily living expenses of the family to reduce the financial pressure on patients and their families and ensure that they can focus on the recovery process.

Unlike ordinary medical insurance, the compensation for critical illness insurance is a fixed amount, and the beneficiary can freely use the funds according to his or her own needs. Whether it is used for medical treatment or not, the compensation can provide the necessary financial security for the family. Therefore, critical illness insurance is an important means of financial protection against health risks, especially for those who need to prevent major medical expenses.

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When the insured is diagnosed with a critical illness, the insurance company will pay a lump sum benefit to help you recover with peace of mind. In New Zealand, the three most common diseases associated with critical illness insurance are cancer, heart disease and stroke.

Once you are unfortunately hit by a serious illness, the huge medical expenses and long-term care costs will take up most of the family income, which will bring life and psychological pressure to the patient and the family. Critical illness insurance will provide you with timely cash assistance when you need it most, while also alleviating the psychological pressure on you and your family and helping you overcome financial difficulties.