What does Critical Illness Insurance mean? Read on to discover the definition & meaning of the term Critical Illness Insurance - to help you better understand the language used in insurance policies.
Critical Illness Insurance
Critical Illness insurance is type of medical insurance that provides the insured with a lump sum payment in the event they are diagnosed with a specified condition or illness listed in the policy. Alternative payout structures are available, and many policies require the insured to survive the diagnosis for a certain number of days.
We hope the you have a better understanding of the meaning of Critical Illness Insurance.